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<br />City of San Leandro Heron Bay Maintenance Assessment District No. 96-3 Page 10 <br />For Fiscal Year 2026/27 and thereafter, the amount of the maximum assessment shall <br />be increased each year using the same formula used above. <br />E. District Reserve Fund <br /> An additional levy of up to $105.32/year/single-family detached unit and <br /> $70.22/year/motor court unit is assessed when the reserve fund needs replenishment. <br /> The Reserve Fund is fully funded and no levy will be required to replenish it this fiscal <br /> year. <br /> <br />F. Calculation of Fiscal Year 2015/2016 Assessments <br />The Fiscal Year 2015/2016 Assessment Rates are based on a percentage of the <br />Maximum Allowable Assessment. The estimated annual cost of operating and <br />maintaining the District improvements for the Fiscal Year shall be determined (Total <br />Costs). Any surpluses or deficits from the previous Fiscal Year shall be identified and <br />applied as a credit or debit to the district. This credit or debit along with revenues from <br />other sources such as interest earnings or General Fund contributions shall be applied <br />to the “Total Cost” to determine the net amount to be raised by assessment (Required <br />Assessment). The percentage of Maximum Allowable Assessment (Percent of <br />Maximum) is determined by dividing the Required Assessment by the Maximum <br />Allowable Assessment (Maximum Assessment). The Maximum Assessment per Single <br />Family Detached and Motor Court Units shall be determined by multiplying the <br />Percentage of Maximum by their respective Maximum Assessment Rate per parcel <br />based on Land Use to determine the cost to be assessed per lot or unit (2015/2016 <br />Assessment Rate). <br /> <br />The following formulas are used to calculate each property’s assessment: <br />Total Required Assessment / Maximum Assessment = Percentage of Maximum Levy <br />Percentage of Maximum Levy × Maximum Assessment Rate = Applied Assessment Rate <br />Lot or Unit × Applied Assessment Rate = Parcel Levy Amount <br /> <br />Fiscal Year 2015/2016 Applied assessments are to be levied at 92.84% of Maximum. <br />The total 2015/16 Assessment has increased by approximately $3,256.12 from the <br />Fiscal Year 2014/2015 assessments <br /> <br />The table below summarizes the current year maximum and applied assessments and <br />rates: <br /> <br />Land Use Lots/Units <br /> Maximum <br />Rate <br />2015/16 <br /> Estimated <br />Annual Levy at <br />Maximum <br /> 2015/16 <br />Assessment <br /> Applied <br />Rate <br />2015/16 <br /> Percent of <br />Maximum <br />Single Family Detached 451 649.56 $292,951.56 $271,980.06 $603.06 92.84% <br />Motor Court Units 178 433.02 77,077.56 71,559.56 $402.02 92.84% <br />Totals $370,029.12 $343,539.62 <br />*Alameda County requires that assessments placed on the tax roll be divisible by two. 2015/16 Assessment indicated here may vary due <br />to rounding.