What is a PID assessment?

April 12, 2018
Filed Under: Waterscape Living

A resident in Waterscape pays taxes to Royse City, Royse City Independent School District, and Rockwall County. In addition, there is a Waterscape Public Improvement District (Waterscape PID) assessment that is paid annually much like a tax and this tax is partially offset by a TIRZ credit provided by Royse City. 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.).

The PID assessment less the TIRZ credit for a 50′ lot is estimated to be approximately $1,350 annually, and $1,450 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 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 in the payment of these taxes.

For more information about the taxes paid by Waterscape residents, visit our Buyer Information fact sheet.


REV: 12.16.19