GATEWAY COMMUNITY DEVELOPMENT DISTRICT (CDD) ASSESSMENT INFORMATION
Questions about Lake Bank Restoration and Assessments click here.
Q. How are District assessments determined?
A. Each property owner will pay an annual assessment, levied on the annual property tax bills as non-ad valorem assessments, based on two component costs. One is the capital amount required to amortize the long-term tax-exempt debts assessed against each lot, parcel or acre for the public facilities acquired or constructed by or on behalf of the District. The annual assessment amounts vary in relation to the land class of the property, and to the infrastructure benefit allocated to the property. Currently that amount is $170.47 that consists of (2) bonds and is for the Pelican Preserve/Phase I-SF/MF units, $257.90 for the Pelican Preserve/Phase I-SF/Estate units, $348.04 for Area 2 with debt, and $349.69 for the Pelican Preserve-Golf Course units. This capital assessment remains constant until the bonded debts are retired.
The other is an annual assessment for operations and maintenance (O&M) of the District’s infrastructure and facilities. Each year, the Board of Supervisors holds a public hearing to adopt the annual budget and set the level of operations and maintenance assessments. Included in the annual operations and maintenance assessment is your pro-rata share of the annual costs to administer the District. Currently, the annual O&M assessments for the 2017 fiscal year is $341.90 – $772.19.
Q. How long do residents of Gateway CDD have to pay CDD assessments?
A. Residents are subject to two assessments, a Bond assessment and an Operations and Maintenance (O&M) assessment. Residents will continue to make O&M assessments, which pay for the ongoing expenses of the Districts, as long as the community exists. Gateway currently has (2) bonds: the Series 2007 – Area 2 Refunded Bond and unless this bond is paid off prior to 2020 or unless a resident has paid off their assessment, residents will pay bond assessments until 2020 when we make our last principal payment in May. Regarding the 2nd bond, Series 2013 – Pelican Preserve Bond, unless this bond is paid off prior to 2033 or unless a resident has paid off their assessment, residents will pay bond assessments until 2033 when we make our last principal payment in May.
Q. Can I pay off the assessment?
A. Yes, the Debt Portion may be paid off in full by requesting an estoppel letter which is a legal document outlining information regarding the current owner’s financial standing in regards to the CDD, what is due and what has not been paid. It also indicates any assessments that are in progress or projected. The preparation of an estoppel letter with a payoff amount has a charge of $75 per letter. If one is desired, please contact Luvinia LaCap at the Severn Trent Services Coral Springs office. She can be reached at (954) 603-0034. Please take in consideration that paying off the Debt does not eliminate the O&M assessment that will continue to be levied on the property’s taxes for as long as the community exists. Additionally, a payoff transaction cannot be reversed.
Q. How is the assessment collected?
A. Assessments are collected uniformly by the Lee County Tax Collector as a “non-ad valorem” assessment on your Lee County Tax bill and are paid directly by the owner or via a mortgage holder escrow, beginning November 1st of each year.