Etheridge Property Management
Municipal Services Benefit Unit (MSBU)
The roads within Spanish Trace are owned and maintained by the association. Therefore, after careful consideration by the association’s Board of Directors, it was determined that applying for an MSBU is the best and most cost-effective route to take in repaving the association's roads. The MSBU option is paid back through an ad valorem property tax which stays with the property NOT the owner until it is paid off.
“Seventy-five (75) parcels have been identified as receiving direct benefits from this project. The annual assessment will be approximately: $3.17 per LF frontage, per year, for five (5) years.The assessment includes a 2% tax collector fee, 10% administrative fee, and 4% early payment discount. Seventy-five (75) non-duplicate owners have been identified. Fifty (50) or 66% of these owners must agree to this assessment. All property owners should be given an opportunity to sign this petition.”
Paving the following roads:
Calle Cabeza De Vaca
Calle De Narvaez
Calle Hernando De Soto
Calle Ponce De Leon (not including circle – recently paved)
Including information on various options to fund the Road Paving project and specifics on the bids obtained for the work.
URGENT UPDATE as of 2/21/19
we received a letter from the county of NOTICE of ERROR (attached). The county regrets the ERROR in math and so does your BOD. We can only provide the information to you the county provides to us as they have the formulas that they work from. Thanks to Kimberlie Turk at EPM for catching the error and alerting the county to this. We owe her and EPM a debt of gratitude. We understand everyone’s frustration and confusion in this matter. We asked that, at this time, you please continue to check back here for the most up to date information regarding this matter or contact Santa Rosa County, directly. Etheridge Property Management has applied for a number of different MSBU’s for several other associations as well as Spanish Trace and all of the Petitions submitted by the county were incorrect resulting in EPM to be flooded with inquiries regarding these issues. Therefore, we ask for your patience and understanding on their response time regarding any MSBU related matters. Below is the update MSBU information for Spanish Trace:
The annual assessment will be approximately:
Paving: $3.17 per LF frontage, per year, for five (5) years.
To calculate your annual assessment, multiply the LF of your property by 3.17. For example,
x 3.17 paving rate
$ 312.34 TOTAL ANNUAL ASSESSMENT