Connerton East Community Development District Finances

The Connerton East Community Development District (the “District”) is authorized to determine, order, levy, impose, collect, and enforce special assessments pursuant to this Chapter 190 and Chapter 170 of the Florida Statutes. Such special assessments may, in the discretion of the District, be collected and enforced pursuant to the provisions of ss. 197.3631, 197.3632, and 197.3635, Chapter 170, or Chapter 173.

District Budget Information

The budget is a financial plan that serves as the basis for expenditure decision-making and subsequent control of expenditures. The plan strives to provide program services at the levels of service established by the Board during the budget process. However, the budget must also be flexible enough to account for unexpected events and expenditures. Otherwise, levels of service in other program areas may suffer to operate within the constraints of the overall budget.

District Operation & Maintenance Assessments

The Series 2023, Series 2025 & Series 2025AA3 Bonds and associated interest are payable from and secured by non-ad valorem assessments levied against those lands within the District that benefit from the design, construction and/or acquisition of the improvements (“Debt Assessments”). The Series 2023, Series 2025 & Series 2025AA3 Bonds mature thirty (30) years from the date of issuance. The Series 2023 Bond proceeds were utilized to fund the construction and/or acquisition of a portion of the Series 2023 Improvements, that will provide special benefit to Parcel 2019, Village 3B, 4-1 & 3A of the development. The Series 2025 & 2025AA3 Bond proceeds were utilized to fund acquisition of a substantially completed facility and other real property located within the District for public recreational use.

The District’s Debt Assessments and operation and maintenance assessments may appear on that portion of the annual real estate tax bill entitled “non-ad valorem assessments,” and will be collected by the Pasco County Tax Collector in the same manner as county ad valorem taxes. Each property owner must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax bill, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property. The District may also elect to collect the assessment directly.

The link below is to the chart which depicts the annual assessment amount of the Series 2023, Series 2025 & Series 2025AA3 Bonds by each lot/unity type to repay that debt. The Series 2023, Series 2025 & Series 2025AA3 Bonds encumber all the lots/units within the District. It is important to know that the Debt Assessment is a fixed amount and will not change from year to year.

Bond Payoff Request

For a bond payoff quote, e-mail bondpayoff@rizzetta.com and provide the name of your CDD, your name, home address, phone number and e-mail address.