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<br />Section VI <br /> <br />TERMS OF THE SPECIAL ASSESSMENTS <br /> <br /> <br />A.Amount of Special Assessments and Annual Installments for Parcels <br /> <br /> <br />The Special Assessments and Annual Installments for the Assessed Property are shown on <br />the Assessment Roll in Appendix A. The Special Assessment and Annual Installments shall <br />not be changed except as authorized under the terms of this 2018 SAP and the PID Act. <br /> <br />B.Reallocation of Special Assessments <br /> <br /> <br />1.Upon Division Prior to Recording of Subdivision Plat <br /> <br />Upon the division of any Assessed Property (without the recording of a subdivision <br />plat), the Administrator shall reallocate the Special Assessment for the Assessed <br />Property prior to the division among the newly divided Assessed Properties <br />according to the following formula: <br />A = B x (C ÷ D) <br />Where the terms have the following meanings: <br />A = the Special Assessment for the newly divided Assessed Property <br />B = the Special Assessment for the Assessed Property prior to division <br />C = the estimated buildout value of the newly divided Assessed Property <br />D = the sum of the estimated buildout value for all of the newly divided <br />Assessed Properties <br />The calculation of the buildout value of an Assessed Property shall be performed by <br />the Administrator based on information from the Landowners, homebuilders, market <br />studies, appraisals, official public records of the County, and any other relevant <br />information regarding the Assessed Property. The calculation as confirmed by the <br />City Council shall be conclusive. <br />The sum of the Special Assessments for all newly divided Assessed Properties shall <br />equal the Special Assessment for the Assessed Property prior to subdivision. The <br />calculation shall be made separately for each newly divided Assessed Property. The <br />reallocation of a Special Assessment for an Assessed Property that is a homestead <br />under Texas law may not exceed the Special Assessment prior to the reallocation. Any <br />reallocation pursuant to this section shall be reflected in an Annual Service Plan <br />Update approved by the City Council. <br />2.Upon Subdivision by a Recorded Subdivision Plat <br /> <br />Upon the subdivision of any Assessed Property based on a recorded Subdivision Plat, <br />the Administrator shall reallocate the Special Assessment for the Assessed Property <br />prior to the subdivision among the newly subdivided Lots based on buildout value <br />according to the following formula: <br />17 <br /> <br /> <br />