We have good news! On September 19, 2022, the LID 15 Board of Directors unanimously voted to reduce LID 15’s 2022 tax rate from $0.405 last year to $0.34 (per $100 of assessed value). This is a $0.065, or 16%, reduction compared to the 2021 tax rate, and it will lower the average homeowner’s tax bill by $170. Over the past eight years, LID 15 has reduced the total tax rate by more than 50%. During the same period of time, LID 15 has continued to improve flood control infrastructure throughout the community, including a partnership with LID 19 to expand the Steep Bank Creek Pump Station.
Years of planning and fiscal responsibility will allow LID 15 to finance the final developer reimbursement in 2023 with cash on hand versus issuing bonds (with additional, long-term debt). This decision will save LID 15 taxpayers hundreds of thousands of dollars in interest payments and bond issuance costs over the next 30 years. During a year of high inflation, the District also worked closely with all vendors to manage expenses and actually decrease the operating budget for the next fiscal year. These decisions by the LID 15 Board of Directors continue to reflect their commitment to the District’s Mission Statement:
“Our Mission, is a COMMITMENT to provide the HIGHEST quality flood plain reclamation, flood protection, detention and outfall drainage for the community in the most cost-effective manner.”