Hutto extends public hearing for Prairie Winds PID funding plan

Delayed action comes in the wake of city officials citing reports that some buyers and Realtors are struggling to obtain documents that clearly explain what PID assessments are and the available payoff options for homeowners.

“That was really concerning to me,” Hutto City Council member Peter Gordon said during a Feb. 5 meeting. “When we developed this PID financing agreement, we made it clear we wanted to be ultra-transparent with homebuyers because they are paying the equivalent of a tax rate [three times higher.]”

Zooming in

Assessment payments are expected to vary between the 45-, 50- and 60-foot lots and range from about $29,000 to $42,000 per home—costs that would be repaid over an extended period and would be in addition to standard property taxes. It is a framework designed to mirror the existing model for Improvement Area No. 1, according to the plan.

The projected estimated cost of authorized improvements as part of Improvement Area No. 2 is $10.9 million, while projected total assessments is nearly $7 million, according to city documents.

The outlook

The extended public hearing on levying assessments for Improvement Area No. 2 is scheduled for April 16.