Modernizing Lake Level Control Structures for Safe Operations and Reliable Lake Levels
2024 – 2025 Lake Level Special Assessment
The 2024-2025 special assessment will pay for the establishment of the special assessment district boundaries, interim repairs to the lake level control structure, and engineering for a long-term project. The project cost is $350,000. The assessment will last two years (2024-2025) and have a 5-6%* interest rate. The first assessment will appear on property owners' winter 2024 tax bill.
*Interest rate subject to change. Final amount will be known once the bond is sold.
When will I receive my assessment?
If you chose not to prepay your assessment, your 2024 and 2025 winter tax bills will contain a line item with the annual assessment, including interest.
What if my property taxes are escrowed?
If your property taxes are paid from an escrow account, you should reach out to your mortgage company to discuss what impact the special assessment may have on the balance of your escrow account and your monthly mortgage payment.
What is the interest rate on the assessment?
The final interest rate will not be locked in until financing is secured.
