The Belmont Community Development District (“District”) is authorized to determine, order, levy, impose, collect, and enforce special assessments pursuant to Chapter 170, 190 and 197 of the Florida Statutes. Such special assessments may, in the discretion of the District, be collected and enforced pursuant to among others the provisions of ss. 190.021, 190.022, 197.3631, 197.3632, and 197.3635, Chapter 170, or Chapter 173.
District Operation & Maintenance Assessments
The operations and maintenance assessment (“O&M Assessment”) is the first component that makes up the non-ad valorem assessments property owners within the District will see on their annual tax bill from Hillsborough County.
O&M Assessments are based on the District’s Operations and Maintenance Budget, which is adopted annually. This is the budget that deals with the day in, day out needs of the District for the administration and operation of the District’s facilities and infrastructure. The District follows the budgeting process proscribed by section 190.008, Florida Statutes.
As part of this process, the District must annually adopt a proposed Operations and Maintenance Budget prior to June 15th and transmit the same to the Clerk of the Board of County Commissioners of Hillsborough County, Florida. After a minimum of 60 days after the submittal to the County, the District must conduct a public hearing to allow for public comment and testimony relating to the proposed Operations and Maintenance Budget. After the public hearing, the Board of Supervisors may adopt the Operations and Maintenance Budget and levy the assessments necessary to fund that adopted Operations and Maintenance Budget.
The link below is to the chart which depicts the O&M Assessments for the current Fiscal Year. Fiscal Years run from October 1st through September 30th of each year. It is important to know that O&M Assessment may change from year to year, depending upon the annual Operations and Maintenance Budget adopted for a given fiscal year.
District Debt Assessments
The Bonds and associated interest are payable from and secured by non-ad valorem assessments levied against those lands within the District that benefit from the design, construction and/or acquisition of the improvements (“Debt Assessments”). Bond proceeds are utilized to fund the construction and/or acquisition of improvements, substantially completed facilities and other real property located within the District for public recreational use. Bonds typically mature thirty (30) years from the date of issuance.
The District’s Debt Assessments and operation and maintenance assessments may appear on that portion of the annual real estate tax bill entitled “non-ad valorem assessments,” and will be collected by the county tax collector in the same manner as county ad valorem taxes. Each property owner must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax bill, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property. The District may also elect to collect the assessments directly.
It is important to know that the Debt Assessment is a fixed amount and will not change from year to year.