Author: FBLID 15

As a reminder, LID 15 taxpayers now receive a consolidated tax statement from the Fort Bend County Tax Assessor/Collector, and a sample is included below. Residents should not expect a separate LID 15 tax statement. The 2020 change to Fort Bend County tax collection is not only more convenient for residents, but it also reduces the District’s costs and saves your tax dollars.

The 2022 tax rate for LID 15 was reduced to $0.34 (per $100 of assessed value). This is $0.065, or 16%, less than 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%.

LID 15 has joined the Fort Bend Economic Development Council (FBEDC) with other levee districts in the County to form the FBFMC (Fort Bend Flood Management Committee).

The purpose of this coalition is to come together to form a strong, collective voice to address federal, state, and local regulations and guidelines that affect leveed areas.  You can follow this committee on the FBEDC at the following link: https://fortbendcounty.com/about-fbedc/committees/flood-management-committee

The FBFMC has engaged consultants to work with the member districts to identify the issues and formulate legislative relief so we continue to benefit from the many years of successful flood management here in FBC.

In 2021, the Federal Emergency Management Agency (FEMA) changed how flood insurance (National Flood Insurance Program, NFIP) rates are calculated for your home and property.  A new rating system called Risk Rating 2.0 (RR 2.0) was introduced.  RR 2.0 supposably allows FEMA to determine premium rates per property based on factors such as proximity to a flooding source, 1^st floor elevation, replacement cost of rebuilding, etc.  This is not a complete list because FEMA has not disclosed exactly how the rate engine is formulated.

In the past, premium rates were determined by mapped flood zones.  In the 100-year floodplain (aka, special flood hazard area or SFHA) federally-backed or regulated lenders must require that flood insurance be purchased and maintained.  Leveed districts in Ft. Bend County are accredited by FEMA, thus avoiding the SFHA designation. As a result, homeowners received Preferred Rate Policies, saving hundreds of dollars, and were exempt from this mandatory purchase of flood insurance.

Under the new NFIP RR 2.0, flood insurance has become a major concern as premium rates have increased, policy holder numbers across the country have started to decrease, and new guidelines are being implemented that potentially could have a negative effect on us and other levee districts.

Some of the current steps being taken by the EDC and FBFMC to address this concern are:

1. Setting the goal of:  Affordable, voluntary flood insurance for 100-year accredited levee protected areas,
2. Requesting that accredited levees continue to exempt protected communities from SFHA designation and mandatory flood insurance purchase,
3. Requiring FEMA to be transparent with the RR 2.0 methodologies and disclose the full actuarial premium on all NFIP flood insurance bills,
4. Ensuring the data being used by FEMA to set RR 2.0 rates in leveed areas is correct.

Through our participation in the FBFMC under the EDC, this District will continue to monitor and challenge any change that goes against the best interest of our residents and businesses.

We trust you will stay engaged and support our efforts through this coalition on your behalf.

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.”