Tax Bill Name:
CITY OF LAKE ELSINORE CFD PUBLIC SAFETY |
Year Began:
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Fund Name:
Community Facilities District No. 2003-1 |
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| Documents on File: 0 |
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| TaxType:
Mello-Roos Community Facilities District - Pay As You Go
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| Summary:
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| The levy was established pursuant to the Mello-Roos Community Facilities Act of 1982 (Government Code Section 53311 et seq.).
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| Facilities:
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The levy can be used to finance park and recreation facilities, school facilities, library facilities, development infrastructure such as street improvements, and other public facilities.
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| Services:
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The levy can be used to finance public safety services, recreation and library programs, maintenance of school, recreation and library facilities, and other public services.
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Calculation:
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Generally, the special tax is calculated based on the formula that is prepared by the special tax consultant during formation of the CFD. The formula can include any reasonable basis for calculation of the special tax for each parcel. However, the special tax cannot be based on value of the property. A typical formula establishes an annual maximum special tax rate for each of the parcels in the CFD based on one factor or a combination of factors which may include location, development status, land use, parcel area and/or improvement area for example. The annual levy amount required from all of the parcels within the CFD, whether to pay back bond debt or for direct financing is determined. If the total maximum special tax amount that can be collected from all parcels within the CFD exceeds the annual levy amount required, only the annual levy amount required is levied and the parcels are levied at a rate that is less than the maximum special tax rate applicable to each parcel. In any event, the special tax levied cannot exceed the maximum special tax. Because the special tax formula can be very flexible and is often extremely complicated, in many cases the CFD does not allow a property owner to prepay the special tax. When a prepayment is allowed, the formula to calculate the prepayment amount is usually based on the maximum special tax rate for a parcel upon development and the term of the special tax. To accurately determine how the special tax is calculated for a particular CFD, it is usually necessary to review the CFD formation documents including the special tax formula.
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Increases:
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Generally, the maximum special tax rate increases each year, ususally 2% for residential parcels. The special tax may be levied up to the maximum special tax rate in any year.
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| How Long:
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The levy may be ongoing if paying services or, if paying back bond debt, for up to 30 years.
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All information from 2001. |
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