HomeMy WebLinkAboutRE [External]Fwd Maturity CFD 90-2 City of Lake Elsinore - Correct Tax BillFrom: Jason Simpson Sent: Wednesday, November 20, 2024 11:29 AM To: Timothy J. Sheridan Subject: RE: [External]Fwd: Maturity CFD 90-2 City of Lake Elsinore - Correct Tax Bill? Good morning Tim - Thank you for forwarding the email regarding Mr. Kilroy's inquiry about the Community Facilities District (CFD) 90-2 levies on Tuscany Hills residents' property tax bills. The original levy covered 1,021 parcels, assessed per Category V of the Rate and Method of Apportionment (RMA), specifying a 25-year maturity period starting from the issuance of building permits for the parcels. Upon reviewing the inquiry, Spicer Consulting Group evaluated the calculation for parcel 363-365-048 and confirmed its accuracy. However, they noted that the last debt service payment was made about a month ago. Initially, the bonds were issued at a 9.25% interest rate, later refunded at 4.50%, allowing for accelerated debt repayment. While the RMA indicated the levy would extend through FY2029-30 (based on the building permit issued in June 2004), the early payoff provides relief ahead of schedule. This parcel had six remaining years under the RMA, but will benefit from the bond refunding and early redemptions. We have coordinated with the Riverside County Tax Collector, who will promptly remove the 90-2 levy from the tax roll and issue revised property tax bills to the 424 property owners, including Mr. Kilroy. There were only 4 parcels that were paid, and those will be issued refunds.
Jason Simpson City Manager PH:951-674-3124 x204 From: Timothy J. Sheridan <tsheridan@Lake-Elsinore.org> Sent: Friday, November 8, 2024 12:52 PM To: Jason Simpson <jsimpson@Lake-Elsinore. Fwd: [External]Fwd: Maturity CFD 90-2 City of Lake Elsinore - Correct Tax Bill? Hi Jason - Can you tell me if this resident is correct? Thank you- Timothy J Sheridan Council Member, District 3 City of Lake Elsinore Begin forwarded message: From: Pat Kilroy <patkilroyelsinore@gmail.com> Date: November 8, 2024 at 8:22:32 AM HST To: "Timothy J. Sheridan" <tsheridan@lake-elsinore.org> Subject: [External]Fwd: Maturity CFD 90-2 City of Lake Elsinore - Correct Tax Bill? Message from external sender. Use Caution. Good morning Councilman Sheridan, The Community Facilities District 90-2 (Mello Roos) expired on October 1, 2024. Your Tuscany Hills citizen's Property Tax Bil ls are being overcharged
by hundreds to thousands of dollars.
Please read and verify the information yourself as discu ssed in the emails below.
I recommend you get in front of this parade and lead it to better the citizens in your district. It's the right thing to do and a h uge political opportunity. I recommend you verify and acknowledge this overchargi ng of taxes in a
public meeting and direct the City Staff to develop a plan for correcting the
Property Tax Bills and doing a notification mailing to al l those affected. You should consider holding a public meeting at the T uscany Hills
Clubhouse, with the City Staff explaining the Sincerely, Pat Kilroy
68 Via De La Valle C: 951-830-0407 ---------- Forwarded message --------- From: Treasurer Tax Collector <RCTTC@rivco.org> Date: Wed, Nov 6, 2024 at 8:21 AM Maturity CFD 90-2 City of Lake Elsinore - Correct Tax Bill?
To: Pat Kilroy <patkilroyelsinore@gmail.com> Hello, For questions regarding special assessments, please call the telephone number of
the agency that levied it. The phone number is indicate d on your tax bill
corresponding to the assessment in question.
Thank you, Lizette Robledo Senior Accounting Assistant
Riverside County Treasurer-Tax Collector From: Pat Kilroy <patkilroyelsinore@gmail.com> Sent: Monday, November 4, 2024 9:23 AM To: Treasurer Tax Collector <RCTTC@RIVCO.ORG> Subject: Maturity CFD 90-2 City of Lake Elsinore - Correct Tax Bill?
CAUTION: This email originated externally from the Riverside County email system. DO NOT click links or open attachments unless you recognize the sender and know the content is safe. To whom it may concern: My current property tax bill shows a charge of $2,163.38 for 68-FC CFD 90-2 Lake Elsinore. Per the City of Lake Elsinore's weblink below, it show s that this
Community Facilities District was paid in full on or abo ut October 1, 2024. https://www.lake-elsinore.org/documentcenter/view/3447 Please explain the process or timeline for my be corrected. Parcel Identification Number (PIN) = 363365048 Thank you in advance for your assistance. Pat Kilroy
68 Via De La Valle
Lake Elsinore, CA 92532
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County of Riverside California