Finances

The Waters Edge 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 annual budget has three components:

District Operation and Maintenance Assessments – These expenses are ongoing and will remain in effect indefinitely.
District Debt Assessments – These expenses expire when the Series 2015 Bonds mature. The bonds mature on May 1, 2036.
Reclaimed Water Assessments – These expenses pay for the reclaimed water that Pasco County provides to the community. The contract for reclaimed water expires February 6, 2038.

The combined CDD assessments appear on the property owners annual Pasco County property tax bill under “non-Ad Valorem Taxes” and are collected in the same manner as “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.

Additional information may be found at the Florida Department of Financial Services website pursuant to Fla.Stat. 189.069(2)(a)(14).

Florida Department of Financial Services (myfloridacfo.com)

District Operation & Maintenance Assessments

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 Pasco 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 2015 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 2015 Bonds were issued in order to refund and defease the District’s Series 2005 Bonds, which were originally issued to fund the construction and/or acquisition of a portion of the Series 2005 Improvements. The Series 2015 Bonds mature on May 1, 2036.

The link below is to the chart which depicts the annual assessment amount of the Series 2015 Bonds by each lot/unit type to repay that debt. The Series 2015 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 20242-2025 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.

Reclaimed Water Assessments

The reclaimed water assessment pays the expense of providing reclaimed water to the community for use in the community irrigation system in the Patio Homes, Single Family Homes and common areas of Waters Edge. (The townhomes are on a well and do not pay for or utilize reclaimed water.) The CDD entered into a 20-year agreement with Pasco County in 2018, to provide reclaimed water for the irrigation system. The reclaimed water expense is a standalone expense and must be fully funded to ensure payment of all expenses for reclaimed water.

Reclaimed Water Assessments