Finances

The Portico Community Development District (“District”) is authorized to determine, order, levy, impose, collect, and enforce special assessments pursuant to this Chapter 190 and Chapter 170 of the Florida Statues. 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 operations and maintenance assessment (“O&M Assessment”) is the second component that makes up the non-ad valorem assessments property owners within the District will see on their annual tax bill from Lee County.

O&M Assessments are based on the District’s Operations and Maintenance Budget, which is adopted annually. This is the budget that deals with the day in, day out needs of the District for the administration and operation of the District’s facilities and infrastructure. The District follows the budgeting process proscribed by section 190.008, Florida Statutes.

As part of this process, the District must annually adopt a proposed Operations and Maintenance Budget prior to June 15th and transmit the same to the Clerk of the Board of County Commissioners of Lee County, Florida. After a minimum of 60 days after the submittal to the County, the District must conduct at least one public hearing to allow for public comment and testimony relating to the proposed Operations and Maintenance Budget. After the public hearing, the Board of Supervisors may adopt the Operations and Maintenance Budget and levy the assessments necessary to fund that adopted Operations and Maintenance Budget.

The link below is to the chart which depicts the O&M Assessments for the current Fiscal Year. Fiscal Years run from October 1st through September 30th of each year. It is important to know that O&M Assessment may change from year to year, depending upon the annual Operations and Maintenance Budget adopted for a given fiscal year.

FISCAL YEAR 2024-2025 ASSESSMENT CHART

District Debt Assessments

The Series 2006 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 2006 Bonds mature on May 1, 2037. The Series 2006 Bond proceeds were utilized to fund the construction and/or acquisition of a portion of the Capital Improvement Program, that will provide special benefit to the development.

The District’s Debt Assessments and operation and maintenance assessments (discussed below) may appear on that portion of the annual real estate tax bill entitled “non-ad valorem assessments,” and will be collected by the Lee 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 2006 Bonds by each lot/unit type to repay that debt. The Series 2006 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.

FISCAL YEAR 2024-2025 ASSESSMENT CHART

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.