Savings expected for property tax bills in Indio

INDIO, Calif. - Beginning this year, many Indio residents will be seeing a savings in their 2014/2015 annual property tax bills, estimated to be between $152 to $221 per residence, city officials announced Thursday.

They said savings for all 2,284 affected residences/parcels, over the life of the bond terms, total over $8.28 million.

According to a release, these savings are made possible through actions taken by the Indio City Council and Finance Department to refinance the debt held by eight local Community Facilities Districts and Assessment Districts. With the current lower interest rates, these eight districts representing 36% of the twenty-two local community facilities and assessment districts in Indio will benefit from the savings.

Community Facilities Districts, commonly known as Mello-Roos Districts, are used to finance local public facilities and provide funding for public services.

Assessment Districts established under the Municipal Improvement Act of 1913 and bonds issued under the Improvement Bond Act of 1915, are used to finance various public improvements throughout the district boundaries, officials said in the release.

For detailed information on each of the eight districts, or to see if you're affected, visit www.indio.org/refinances2014.

comments powered by Disqus

Photo Galleries

  • Best Clinton, Trump lines from Alfred E. Smith dinner

    Best Clinton, Trump lines from Alfred E. Smith dinner

      Less than a day after their heated final presidential debate, Donald Trump and Hillary Clinton traded shots at the Alfred E. Smith Memorial Dinner. Here's a look at the most memorable lines from the event.

    Read More »
  • Most popular Halloween pet costumes
    John Moore/Getty Images

    Most popular Halloween pet costumes

    Halloween isn't just for humans to dress in costume. About 16 percent of consumers plan to dress their pets up too, according to the National Retail Federation. The group put together a list of the top costumes for pets. Click through to see what made the list, including the devil.

    Read More »
  • Stepping back in presidential homes
    Alex Wong/Getty Images

    Stepping back in presidential homes

    A new family will be moving into 1600 Pennsylvania Ave. in January, inheriting a home rich with history and tradition. Check out how some of our founding fathers lived in their presidential estates.

    Read More »
  • American cities with longest commutes
    David McNew/Getty Images

    American cities with longest commutes

    If you think your morning commute is long, see how it stacks up to the average commute time in these 10 cities.

    Read More »
  • On this day: October 21
    Scott Clarkson via Wikimedia Commons

    On this day: October 21

    Magellan discovers the strait that would bear his name, Carlton Fisk waves his World Series home run fair, and Keith Moon plays his last show with The Who, all on this day.

    Read More »