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Section VI <br />TERMS OF THE ASSESSMENTS <br />A.Amount of Assessments and Annual Installments for Parcels <br />The Assessments and Annual Installments for the Assessed Property are shown on the <br />Assessment Roll in Appendix A. The Assessmentand Annual Installments shall not be <br />changed except as authorized under the terms of thisSAP and the PID Act. <br />B.Reallocation ofAssessments <br />1.Upon Division Prior to Recording of Subdivision Plat <br />Upon the division of any Assessed Property (without the recording of a subdivision <br />plat), the Administrator shall reallocate the Assessmentfor the Assessed Property <br />prior to the division among the newly divided Assessed Properties according to the <br />following formula: <br />A = B x (C ÷ D) <br />Where the terms have the following meanings: <br />A = the Assessmentfor the newly divided Assessed Property <br />B = the Assessmentfor 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 Assessments for all newly divided Assessed Properties shall equal the <br />Assessmentfor the Assessed Property prior to subdivision. The calculation shall be <br />made separately for each newly divided Assessed Property. The reallocation of an <br />Assessmentfor an Assessed Property that is a homestead under Texas law may not <br />exceed the Assessmentprior to the reallocation. Any reallocation pursuant to this <br />section shall be reflected in an Annual Service Plan Updateapproved by the City <br />Council. <br />2.Upon Subdivision by a Recorded Subdivision Plat <br />Uponthe subdivision of any Assessed Property based on a recorded Subdivision Plat, <br />the Administrator shall reallocate the Assessmentfor the Assessed Property prior to <br />the subdivision among the newlysubdivided Lots based on buildout value according <br />to the following formula: <br />16 <br /> <br />