Assessment costs are relatively low compared to the past few projects completed. The city has opened a prepayment timeframe if you are able and wish to pay the balance in full. If you cannot, the assessments will be reflected on your 2014 annual tax bill.
So what will it cost for homeowners located in SW 6 & 7? *amounts based on standard 80×125 lot
- Initial hookup costs for the plumber, permit and water meter fee (approximately $1500) once utilities are made available
- Prepayment discounts from August 22, 2013 through October 31, 2013 are estimated to total $15,411 including both assessments and impact fees
- Prepayment discounts from November 1, 2013 through July 31, 2014 are estimated to total $15,828 including both assessments and impact fees
- Assessments billed from August 1, 2014 on are estimated to total $17,178 plus interest (interest on assessments is approximately 4.08% & interest on impact fees is approximately 3.79% annually). So if you do not pre-pay your assessments or impact fees the total over the 20 year amortization paid on annual taxes will be $24,414 with interest
- Tax billed amounts will be approximately $810/year for assessments (years 1-20) and approximately $1,369/year for impact fees (years 1-6). This will increase the annual tax bill by $2,179/year for the first six years; starting year seven the tax bill will be reduced by $1,369
Contact Cape Coral utility billing for more specific information regarding your property. The city has also published a website specific to the utility expansion into SW 6 & 7 that will provide up-to-date and accurate information.