City Promises to Lower Area 7B Taxes 25%, but Still Overcharging
The City is still overcharging $271,754.40 to the Senior Citizens of Area 7B.
The Meeting between the Property Owners of Area 7B and the City of Beaumont was well attended. Approximately 50 Citizens attended. Mayor Nancy Carroll, City Manager Todd Parton, a Representative from Webb and Associates, and a Representative from KHov also attended.
At the Area 7B Meeting the City passed around a flyer titled “Average Levy Per Parcel – Maximum vs. Enrolled Levy”.
The City stated that the 2019 CFD Tax Roll prepared by Albert A. Webb and Associates and ‘Council Approved’ on July 17, 2018, was listing the ‘Maximum Levy’ of CFD Property Taxes that ‘could’ be charged, which for Area 7B was $442,742.00.
But the amount of CFD Property Taxes the City is actually charging, the ‘Enrolled Levy’, for Area 7B in 2019 is $330,565.20. The City has graciously decided to give Area 7B a 25% discount. Isn’t that nice.
However; the Bond Debt for the 2012CD Bond payment will only be $151,862.52.
The City is still overcharging Area 7B Property Owners by $178,702.68. With Services included, the City is overcharging $271,754.40 to the Senior Citizens of Area 7B.
And yes the City IS still encouraging people to Pre-Pay their Mello Roos Bond Debt even though the money is not used to pay of the Bond Premium and the City states on the Bond Continuing Disclosure that there are no records.