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Tax Information – Waterscape Phase One

December 16, 2019
Filed Under: Waterscape Living

Waterscape Phase 1 TAXES (Phase 1 is in the ETJ of Royse City)

TAXES PER $100 AV (2019 Rates):

Rockwall County – $ 0.3250

Royse City ISD – $1.56835

PID (Public Improvement District) – $2,059 on a 50’ lot or $2,471 on a 60’ lot (annual charge)

 

What is a PID tax:

A resident in Waterscape, Phase 1 pays taxes to Rockwall County and Royse City Independent School District. In addition, there is a Waterscape Public Improvement District (Waterscape PID) assessment that is paid annually much like a tax. These assessments help keep lot and home prices affordable, as the assessments are used to finance public improvements within Waterscape (water, sewer, drainage, roads, etc.).

In Waterscape, Phase 1 the PID assessment for a 50′ lot is $2,059 annually, and $2,471 annually for a 60′ lot. The PID assessment is used to pay off bonds that finance public improvements and is therefore paid by residents for the life of the bond, typically 30 years. After the bonds are paid off the PID assessment goes away. This is different from a city tax, which is assessed based on property value and remains in place forever.

All county and school property tax exemptions (homestead, over age 65) are available within Waterscape Phase 1 in the payment of these taxes. Waterscape Phase 1 residents do not pay a city tax but do pay the Waterscape PID assessment as described above.

Just FYI:

As of 2019, the Royse City property tax rate per $100 is $0.6215. But remember, Waterscape Phase One residents do NOT pay this city tax.

To see tax information for Waterscape Phase Two and all future phases, see the tax section in our Buyer Information Sheet.

 

 

Rev. 12.16.19