Posting Language
Title
Approve an ordinance setting the assessment rate and approving a proposed 2026 assessment roll for the South Congress Preservation and Improvement District. Funding: The 2026 assessment rate of $0.20/$100 valuation is estimated to produce $384,556 at an 85% collection rate. Funding: This item has no fiscal impact.
De
Lead Department
Economic Development.
Fiscal Note
The 2026 assessment rate of $0.20/$100 valuation is estimated to produce $384,556 at an 85% collection rate. This item has no fiscal impact.
Prior Council Action:
October 15, 2014 - Council approved Resolution No. 2014016-062 authorizing the creation of the South Congress Preservation and Improvement District (PID).
March 21, 2024 - Council approved Resolution No. 20240321-045 reauthorizing the PID.
May 30, 2024 -Council approved Ordinance No. 20240530-012 setting the assessment rate and approving the proposed 2025 assessment roll for the PID.
July 18, 2024 -Council approved Resolution No. 20240718-124 adopting the PID Service and Assessment Plan and Budget update for 2025.
For More Information:
Anthony Segura, Interim Director, Economic Development Department, 512-974-3187; Donald Jackson, Economic Development Department, 512-974-2214.
Additional Backup Information:
This action will approve the proposed PID assessment rate and roll for 2026. State law requires Council approval of the proposed assessment roll. This approval is necessary so that notices may be sent to the property owners, giving them an opportunity to review the property valuations prior to the public hearing, which Council will hold on July 24, 2025. All previously approved exemptions and exclusions from assessments are retained in this year's roll. Council requested that this assessment process be timed so that it coincides with the receipt of other real property tax bills.
State law requires a public hearing by Council to consider the assessments. Each property owner has a right to appear and speak at the hearing. Exhibit A of the related item includes the assessment value for each property. The PID is comprised of 44 properties lining South Congress Avenue from Nellie Street to Annie Street.