What is a special district?
Special districts or special district governments in the United States are independent, special-purpose governmental units that exist separately from, and with substantial administrative and fiscal independence from, general purpose local governments such as county, municipal, and township governments and that are formed to perform a single function or a set of related functions. As defined by the U.S. Census Bureau, the term special district governments excludes school districts.
What is my mill levy?
Each district's mill levy is specified within the budget statements and annual reports. Willow Springs Ranch Metropolitan District – The current certified mill levies are 57.266 mills.
What is a bond?
In the purpose of a special district, there are bonds issued. These involve the issuance of tax-exempt bonds to finance public improvements within the special district. Districts may construct public improvements and/ or purchase public improvements through the bond proceeds.
What are the benefits for me living within a special district or owning land within a special district?
Private Sector Benefits include, non-recourse financing, long-term financing, reduce equity/ third party borrowings, 100% debt financing, tax-exempt interest rates, interest reserves, no acceleration provisions, accelerate construction, additional facilities, and impact fee credit.
Public Sector Benefits include; the growth within the district is assured without impact to existing residents, preserves debt capacity of jurisdiction, new source of capital funding, the jurisdiction is not financially responsible for the debt obligations, competitive advantage among public entities, the fulfilment of public purpose objectives, provision of additional amenities, and faster than impact fees.
Home Owner Benefits include lower home prices, additional amenities, advanced construction of improvements, and reduced operations and maintenance expenses.
*If you have any questions, please contact management at office@willowspringsranch.co. (not .com)