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<br />City of San Leandro Heron Bay Maintenance Assessment District No. 96-3 Page 11 <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 not fully funded and a levy will be required to replenish it this fiscal <br /> year. <br /> <br />F. Calculation of Fiscal Year 2023/2024 Assessments <br />The Fiscal Year 2023/2024 Assessment Rates are based on a percentage of the <br />Maximum Allowable Assessment. The estimated annual cost of operating and maintaining <br />the District improvements for the Fiscal Year shall be determined (Total Costs). Any <br />surpluses or deficits from the previous Fiscal Year shall be identified and applied as a <br />credit or debit to the district. This credit or debit along with revenues from other sources <br />such as interest earnings or General Fund contributions shall be applied to the “Total Cost” <br />to determine the net amount to be raised by assessment (Required Assessment). The <br />percentage of Maximum Allowable Assessment (Percent of Maximum) is determined by <br />dividing the Required Assessment by the Maximum Allowable Assessment (Maximum <br />Assessment). The Maximum Assessment per Single Family Detached and Motor Court <br />Units shall be determined by multiplying the Percentage of Maximum by their respective <br />Maximum Assessment Rate per parcel based on Land Use to determine the cost to be <br />assessed per lot or unit (2023/2024 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 2023/2024 applied assessments are to be levied at 100.00% of Maximum. <br />The total Fiscal Year 2023/2024 Assessment has increased by approximately <br />$174,765.90 from the Fiscal Year 2022/2023 Assessment. <br /> <br />The table below summarizes the current year maximum and applied assessments and <br />rates: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />*Alameda County requires that assessments are divisible by two, therefore the Total Assessment and Applied Rate may vary <br />from actual assessments applied on the county tax roll due to rounding. <br /> <br /> <br />Land Use Lots/Units <br /> 2023/2024 <br />Maximum <br />Assessment <br />Rate <br /> 2023/2024 <br />Applied <br />Assessment <br />Rate <br /> Percent of <br />Maximum <br /> 2023/2024 <br />Additional <br />Reserve Fund <br />Rate <br /> 2023/2024 Total <br />Applied Rate <br /> 2023/2024 Total <br />Assessment <br />Single Family Detached 451 $761.06 $761.06 100.00% $105.32 $866.38 $390,737.38 <br />Motor Court Units 178 $507.36 $507.36 100.00% $70.22 $577.58 102,809.24 <br />Totals $493,546.62