Riverwood
Community Development District

Riverwood Assessment Information

RIVERWOOD COMMUNITY DEVELOPMENT DISTRICT (CDD)
ASSESSMENT INFORMATION

 

Q. How are District assessments determined?

A.  Each property owner will pay an annual assessment, levied on the annual property tax bills as non-ad valorem assessments, based on two component costs. One is the capital amount required to amortize the long-term tax-exempt debts assessed against each lot, parcel or acre for the public facilities acquired or constructed by or on behalf of the District. The annual assessment amounts vary in relation to the land class of the property, and to the infrastructure benefit allocated to the property. Currently that amount is $282.88 that consists of (2) bonds and is for all residential units that include twin villas, multi-family, single family and estate single family. The amount for the commercial units that include the maintenance building, clubhouse, golf course and Centex is $200.00. This capital assessment remains constant until the bonded debts are retired.

The other is an annual assessment for operations and maintenance (O & M) of Community properties. The amount is the same for all properties regardless of type or location within the community. Each year, the CDD Board of Supervisors advertises for and holds a public hearing to set its budget and the level of assessments.

Currently, the Annual O & M assessments for the 2017 fiscal year is $545.89 for both the residential and commercial units. 

Q. How long do residents of Riverwood CDD have to pay CDD assessments?

A. Residents are subject to two assessments, a Bond assessment and an Operations and Maintenance (O&M) assessment. Residents will continue to make O&M assessments, which pay for the ongoing expenses of the Districts, as long as the community exists. Riverwood currently has (2) bonds: the 2007A Special Assessment Revenue Refunding Bond and unless this bond is paid off prior to 2022 or unless a resident has paid off their assessment, residents will pay bond assessments until 2022 when we make our last principal payment in November. Regarding the 2nd bond, unless this bond is paid off prior to 2025 or unless a resident has paid off their assessment, residents will pay bond assessments until 2025 when we make our last principal payment in September.

Q. Can I pay off the assessment?

A. Yes, the Debt Portion may be paid off in full by requesting an estoppel letter, which is a legal document outlining information regarding the current owner’s financial standing in regards to the CDD, what is due and what has not been paid. It also indicates any assessments that are in progress or projected. The preparation of an estoppel letter with a payoff amount has a charge of $75 per letter. If one is desired, please contact Luvinia LaCap at the Severn Trent Services Coral Springs office. She can be reached at (954) 753-5841 extension 40534. Please take in consideration that paying off the Debt does not eliminate the O&M assessment that will continue to be levied on the property’s taxes for as long as the community exists. Additionally, a payoff transaction cannot be reversed.   

Q. How is the assessment collected?

A. Assessments are collected uniformly by the Charlotte County Tax Collector as a “non-ad valorem” assessment on your Charlotte County Tax bill and are paid directly by the owner or via a mortgage holder escrow, beginning November 1st of each year.

RIVERWOOD CDD

Comparison of Assessment Rates

Fiscal Year 2018 vs. Fiscal Year 2017

Parcel Product Type # of Total Units FY 2018 Proposed Total Assessment FY 2017 Adopted Total Assessment Percentage Change
Residential
Fairway Lakes Single Family              81.00 $1,033.85 $828.77 24.74%
Lakeshore Village Single Family              59.00 $1,033.85 $828.77 24.74%
Riverside Single Family              15.00 $1,033.85 $828.77 24.74%
Riverside Single Family                8.00 $1,033.85 $828.77 24.74%
Royal Oaks Single Family              39.00 $1,033.85 $828.77 24.74%
Royal Oaks Single Family                6.00 $1,033.85 $828.77 24.74%
Eagle Trace Single Family              43.00 $1,033.85 $828.77 24.74%
Bayridge Single Family              48.00 $1,033.85 $828.77 24.74%
Osprey Landing Single Family              92.00 $1,033.85 $828.77 24.74%
Reserves Twin Villas              26.00 $1,033.85 $828.77 24.74%
Grand Vista Multifamily              90.00 $1,033.85 $828.77 24.74%
Silver Lakes Estate Single Family              56.00 $1,033.85 $828.77 24.74%
Myakka Pt - Logan Pt Estate Single Family              35.00 $1,033.85 $828.77 24.74%
Myakka Pt - Baileys Pond Single Family              53.00 $1,033.85 $828.77 24.74%
Myakka Pt - Marlin Cove Twin Villas          18.00 $1,033.85 $828.77 24.74%
Myakka Pt - Villas at Tarpon Harbor II  Twin Villas          12.00 $1,033.85 $828.77 24.74%
Myakka Pt - Tarpon Harbor Multifamily              36.00 $1,033.85 $828.77 24.74%
Myakka Pt - Tarpon Harbor II Multifamily              56.00 $1,033.85 $828.77 24.74%
Sawgrass - Westport Ridge Estate Single Family              32.00 $1,033.85 $828.77 24.74%
Sawgrass - Estuary Single Family              37.00 $1,033.85 $828.77 24.74%
Sawgrass - Driftwood Pt Single Family              39.00 $1,033.85 $828.77 24.74%
Sawgrass - Oyster Bay Twin Villas              28.00 $1,033.85 $828.77 24.74%
Sawgrass - Pompano Cove Twin Villas              34.00 $1,033.85 $828.77 24.74%
Sawgrass - River Run Estate Single Family              59.00 $1,033.85 $828.77 24.74%
Sawgrass - Channel Ridge Estate Single Family              25.00 $1,033.85 $828.77 24.74%
Sawgrass - Clipper Cove Single Family              13.00 $1,033.85 $828.77 24.74%
Sawgrass - Fisher Landing Single Family              21.00 $1,033.85 $828.77 24.74%
Sawgrass - Still Water Trace Twin Villas              68.00 $1,033.85 $828.77 24.74%
Sawgrass - Redfin Shores Multifamily              50.00 $1,033.85 $828.77 24.74%
Stonebridge Single Family              60.00 $1,033.85 $828.77 24.74%
Willow Glen Phase 1 Single Family              30.00 $1,033.85 $828.77 24.74%
Willow Glen Phase 2 Single Family              10.00 $1,033.85 $828.77 24.74%
Willow Glen Phase 3 Single Family              24.00 $1,033.85 $828.77 24.74%
Willow Glen - 1st Choice Single Family              20.00 $1,033.85 $828.77 24.74%
Total Residential    1,323.00
Commercial
402121328003 Maintenance Bldg 2  $     543.16 $745.89 -27.18%
402121151003 Club        119.00  $     543.16 $745.89 -27.18%
Total Commercial       121.00
TOTAL      1,444.00