TITLE
title
FY 2027 Non-Ad Valorem Assessment Rate Increase for Ridge Manor Street Lighting Municipal Service Benefit Unit and Establishment of Future Maximum Rate and Associated Resolution
body
BRIEF OVERVIEW
The Ridge Manor Street Lighting District was created by Ordinance 92-17 to provide for the creation, maintenance and operation of a lighting system within the Ridge Manor subdivision.
There are currently 102 streetlights currently paid for by the MSBU, with a request to add one additional streetlight for a total of 103. In 2025, WREC increased their rates on average by 6% for lighting. Additionally, Property Appraiser cost allocation fees increased from 2% to 3% beginning FY2026. The annual operational expenses have increased beyond the annual assessment revenue received, thus diminishing reserves. As a result, the Ridge Manor Street Lighting MSBU district's assessment revenue can no longer support the increasing annual operating expenses and maintain the required 18% reserve at the current assessment rate of $10.00. The reserves have already fallen below the recommended 18% required to meet first quarter cash flow needs for FY2026.
In accordance with Section 197.3632, Florida Statutes, a non-ad valorem assessment roll shall be adopted at a public hearing if the non-ad valorem assessment is increased beyond the maximum rate authorized by law or judicial decree at the time of initial imposition. Property owners must be notified of the public hearing and proposed assessment increase by first-class mail and advertisement at least 20 days prior to the public hearing. The FY2026 recognized cost for printing and mailing notices to all property owners in the Ridge Manor Street Lighting MSBU is $630.00. Staff therefore recommends increasing the FY2027 non-ad valorem assessment rate to $13.00 and increasing the maximum assessment rate to $20.00 as noted below to meet future operational needs. Setting the maximum rate would alleviate future printing and po...
Click here for full text