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The board approved a first amendment increasing the target tax rate from $3.30 to $5.00, raising the maximum assessment per lot to $12,500, and extending the infrastructure payment period from 10 to 15 years. The resolution passed 5-1, with one member excused.
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The changes are intended to address infrastructure costs, inflation, and changes in property valuation procedures. They apply to new homeowners, while existing homeowners will not receive separate district notices; their CFD charges may still vary with property values and debt-service needs. Updated disclosure statements will identify the revised rates for new buyers.
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