By Richard Dyer | Your Valley
The budgets for Mesa’s three community facilities districts — $5.5 million for Cadence, $30.7 million for Eastmark No. 1 and $8.5 million for Eastmark No. 2 — have been approved for fiscal year 2021-22.
Secondary property tax rates of $4.15 per $100 of net assessed limited property value — $3.85 for debt service and 30 cents for operation and maintenance expenses — have also been approved for each district.
Mesa City Council, which makes up the boards for all three, approved the final budgets and property tax rates June 24. Tentative budgets for the same amounts were approved June 10.
The city of Mesa has three CFDs, all in ZIP code 85212. The Eastmark and Cadence CFDs were formed at the request of property developers through the city of Mesa to obtain community funding for property development.
Districts pay for accounting, budget, clerk, engineering, legal and treasurer services provided from city staff time. In addition, each district pays for publishing costs, audit work, outside legal counsel and software license costs incurred by the district.
