(a) A resolution adopted under Section
14-9 must also authorize the imposition of a special assessment, special tax, fee, or charge, or any combination of them, in the development district at a rate designed to provide adequate revenues to:
(1) pay the principal of, interest on, and redemption premium, if any, on the bonds;
(2) replenish any debt service reserve fund;
(3) pay the cost of any approved infrastructure improvement, or reimburse the County for the cost of any approved infrastructure improvement paid from other County funds;
(4) pay directly the cost of any approved infrastructure improvement built or funded other than by the County; and
(5) pay the administrative expenses of the development district.
The resolution may reserve the Council's authority to adjust any rate schedule.
(b) The resolution must provide, except when clearly inconsistent with state law, that:
(1) any property which is fully developed before the development district is created is exempt from any special assessment, special tax, fee, or charge imposed under this Chapter; and
(2) the owner of any property exempt from payment under paragraph (1) which is later developed more intensively and benefits from any development capacity attributable to infrastructure improvements financed by the district must pay any tax, fee, or charge that it would have otherwise paid under this Chapter.
Under paragraph (1), “fully developed” property does not include any property developed after the Council adopted a resolution under Section
14-6 by any property owner who signed a petition under subsection
14-6(a) or that owner’s successor in interest, and any such property is not exempt from any special assessment, special tax, fee, or charge imposed under this Chapter.
(c) A special assessment or special tax must:
(1) be levied and collected in the same manner, for the same period or periods, and with the same date or dates of finality as otherwise provided by law; and
(2) end when all bonds issued for the district have been paid in full and the County has been fully paid for each infrastructure improvement built or funded by the County.
(d) The special assessments, special taxes, fees, or charges authorized under subsection (a) must be payable as otherwise provided by law or (if state and County law are silent) as provided in the resolution adopted under Section
14-9. Any special assessment, special tax, fee, or charge must not be levied until each infrastructure improvement to be financed or refinanced has been approved in the County capital improvements program.
(e) The resolution may establish procedures for the prepayment of any special tax, special assessment, fee, or charge levied in the district. The resolution also must, subject to modification by a resolution adopted under Section
14-13:
(1) specify (to the extent not already controlled by state or County law) the basis of and any exemptions from any special assessment, special tax, fee, or charge;
(2) set a maximum special assessment, special tax, fee, or charge applicable to each individual property in the district; and
(3) prohibit any increase in, or extension of the term of, the maximum special assessment, special tax, fee, or charge applicable to any individual property because of any delinquency or default by any other taxpayer.
(f) (1) A taxpayer who did not sign a petition under Section
14-6(a), and that taxpayer's successor in interest, may defer any special ad valorem tax on real property imposed to support that debt until the Planning Board approves a plan of subdivision or resubdivision for that taxpayer's property, or, if no subdivision plan is necessary, until the first building permit is issued for any building on the affected property.
(2) The Director of Finance and the taxpayer may agree on a payment schedule.
(3) The taxpayer must pay interest on any deferred tax at the rate set by law for unpaid real property taxes during each year that taxes are deferred.
(g) The County must not allow a credit toward the payment of any development impact tax levied under Chapter 52, or any other tax, fee, or charge, for that part of any infrastructure improvement financed by a development district. (1994 L.M.C., ch. 12, § 1; , § 1; , § 1.)
Editor’s note—2012 L.M.C., ch. 26, § 2, states: Statement of Intent. The Council intends that, if any further special taxing district is created by law:
(a) except as expressly approved by a Council resolution, a tax imposed under the authorizing law must not pay for that part of the cost of any infrastructure improvement that has:
(1) been paid for by any other government agency, or;
(2) received a credit toward the payment of the development impact tax or any other tax, fee, or charge; and
(b) the County must not allow a credit toward the payment of any development impact tax levied under
Chapter 52, or any other tax, fee, or charge, for that part of any infrastructure improvement financed by the special taxing district.
2008 L.M.C., ch. 34, took effect on January 26, 2009.
2008 L.M.C., ch. 34, § 3, states: Applicability; interpretation.
(a) Any amendment to County Code
Chapter 14 made in Section 1 of this Act applies to any action taken after this Act take effect.
(b) Any amendment to County Code
Chapter 14 made in Section 1 of this Act does not alter or affect any Council resolution adopted, or other action taken with respect to a development district, before this Act takes effect.
(c) Any amendment to County Code
Chapter 14 made in Section 1 of this Act does not indicate that the previous version of a provision amended by Section 1 of this Act should be interpreted differently from the same provision as amended by Section 1 of this Act.
(d) Any notice or disclosure requirement in Section
14-17, as amended by Section 1 of this Act, applies to any sale contract signed, and any sales material or advertisement for sale disseminated, after this Act takes effect in any development district created, and in any proposed development district for which the Council adopted a resolution under Section
14-6, after January 1, 2001.
