What is a “NON-AD VALOREM Assessment”?
A Non-Ad Valorem Assessment is “a legal financing mechanism or method wherein the County establishes a special district to allow a group of citizens to fund a desired improvement, such as utilities or roads, by majority consensus (51%) of the approval of the property owners contained in the assessment area”. The assessment boundary is determined by those properties that will derive a benefit from the improvements. This boundary by definition is called the “benefit unit”.
The steps in bringing a project to fruition is very time consuming. Petition validation, engineering design, permitting, land acquisition, construction, bond validation, financing and the Non-Ad Valorem "legal process" will usually take about two years. The conception of the Non-Ad Valorem Program began approximately seventeen years ago.
This is an assessment district project, wherein, you as the property owner will be assessed and asked to pay for a fair share of the project costs, which include: Construction Costs, Engineering and Design Costs, Surveying Costs and Administrative and Financing Fees associated with the Non-Ad Valorem Assessment.
The cost of the improvements would be distributed among each property owner, based on the method of assessment derived for the project.
YOU HAVE THE OPTION TO …
- Finance through the County or
- Pre-pay the assessment within thirty (30) days of the final public hearing, and avoid the finance and interest charges.
- Project would be financed over a ten (10) or fifteen (15) year period to make the payments more affordable.
- Payments are made annually – added to your property tax bill, and shown as a special assessment.
- This assessment is treated in the same manner as your tax bill. If you do not pay your property taxes, the Tax Collector files a tax lien and a tax certificate is sold to pay the taxes on your property.
- Assessment runs with the property, not the property owner, therefore the assessment would NOT have to be paid off if you sell your property.