The Community Development Charge (CDC) was established for the benefit of the Community Authority, as a charge on each Chargeable Parcel within the Community District. The purpose of the CDC is to cover all or part of the cost of the acquisition, development, construction, operation and maintenance of land, Community Land Development and Community Facilities.
The annual CDC is based on the Assessed Valuation of each Chargeable Parcel in the amount of the number of mills (one mill equals 1/10of 1%) as determined by the Board of Trustees, not to exceed 9.75 mills. One-half of the annual CDC is due and payable semiannually on due dates as determined by the Board of Trustees. The CDC is currently collected by Franklin County with the Property Tax collections in January and June of each year. The CDC is in addition to other property taxes collected by Franklin County.
An example of the how the CDC is calculated is shown below:
Market Value of Property $100,000.00
Assessed Value (35% of Market Value) 35,000.00
Times: Mills as set forth by the Board .00340
Annual Community Development Charge 119.00