Financing Public Improvement Projects
The City of Spring Hill finances public improvement projects such as infrastructure for housing developments and general street improvements. Financing is obtained through the issuance of general obligation bonds that are exempt from federal and state taxes, and therefore, offer lower interest rates than private financing. These lower rates result in lower costs for improvement projects for the city and also lower housing costs for new home purchasers.
Learn more about special assessments on this fact sheet.
Special Assessment Fees
Cost of the infrastructure improvements are then passed on to the citizen in the form of a special assessment fee. The assessment fee consists of principal and interest over 10, 15 or 20 years depending on the project. These fees are certified to the county clerk and appear annually on the property tax statement.
Active Benefit Districts
|Benefit District||Payoff Year|
|South Sanitary Sewer||2021|
|North Sanitary Sewer #1
|North Sanitary Sewer #2||2027|
|North Sanitary Sewer #3||2031|
|North Sanitary Sewer #4||2030|
|North Sanitary Sewer #5||2027|
|North Sanitary Sewer #6||2027|