Public Improvement District Number 7 Heritage has been designated as a “Public Improvement District” (PID)– a special taxing district. As such, the City of Fort Worth uses special tax dollars to enhance and maintain area parks, entryways, rights-of-way, fencing, irrigation systems, etc., in a manner that exceeds the standard services provided by the City of Fort Worth.
What does PID 7 stand for?
PID 7 is an acronym for Public Improvement District Number 7.
What is a PID?
A PID is a special tax district that overlays the Heritage community between Old Denton Road on the west and Ray White on the east. Residents living within the boundaries of the PID will pay an extra tax in the amount of $.21 per $100 of assessed value. Commercial Entities pay an extra $.11 per $100 of assessed value. This tax is billed through your regular annual property tax bill.
What does the PID pay for?
The proceeds collected from this special tax pay for the cost of maintaining the rights-of-ways, parks, open spaces and entry ways within the community at a level that is over and above what the city would normally do.
Why do I pay HOA dues in addition to the PID assessment?
According to the state statute, proceeds collected through the PID cannot pay for any maintenance that is not benefiting the public at large. This means that PID dollars do not help maintain the Heritage Clubhouse, swimming pools, basketball courts or tennis courts. Homeowner’s dues are collected to support the maintenance of those facilities.
Do I have a voice in how the collected monies are spent?
The General Manager with FirstService Residential will hold a meeting in August of every year for all interested homeowner's who want a detailed account of how the yearly budget was prepared. This is the best opportunity for residents to voice their opinions. In September of every year the budget will be presented to city council for approval. Again, this is an opportunity for residents to voice their opinions. However, the goal is to satisfy everyone's questions or concerns at the annual meeting. Residents are always welcome to attend a monthly Budget Team meeting to learn more about the PID budget.