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WMWD ANNEXATION FEE CHANGE

Residents Association of Greater Lake Mathews


RAGLM Board > Alerts > WMWD Annexation Fee Change
8/12/2011 9:32:59 AM
Another Rate Hike or Higher TaxesReply: Nathan
Looks like WMWD never rests on finding ways to take our money. After reading through this in more detail, I have found a few more things.

1. WMWD is currently bound to the property tax as a means to pay back the annexation fees to MWD.

2. MWD made these loans with the intent of them getting paid back in 30 years, not to exceed 50 years.

3. Our area will not pay off it’s loan until 59 years.

4. WMWD still owes 17+ million as of today.

5. Their max allotted annual tax roll as of now in our area is 1 million per year.

6. If we continue to stay on the course we are, there will be about a 6-9 million dollar shortfall due to interest etc. calculations are estimated.

7. Yes, WMWD wants to alleviate the tax burden on us for this repayment but will still have the debt.

8. How will they repay that debt? Hmmmm,  I wonder.

9. If we do not pay back the debt by 2020 which will be the 50 year limit, MWD will simply write it off as a loss.

10. So there will be no debt left after 2020 and we will pay less if we stay with the status quo, and vote no.

11. They only need a majority of 12 votes to pass this.

I assume it will pass as they only need to trick 7 people into thinking it will alleviate their tax burden. How will they recapture the money then? The amount that is getting paid by our taxes right now by the year 2020 will essentially double so not only will they go for a new tax levy, maybe they will raise our rates again. This is something we will pay double for if we vote yes to pass it.

Basically they will no longer be bound by the law that makes them pay it back by tax revenue and will have any means they wish to pay it back now. Also, by allowing the law to get overturned will also make them responsible for paying it all back as there will no longer be a cut off date. So the amount will double and they will want to pay it back faster. What do you think they will do to make this happen? I would vote no if it were me but that is just me. I hope this helps understand it a little better. I have also attached the MWD Resolution 9123.


If I am incorrect here and anyone else sees this in a different light, please let me know as this is a thick packet and a lot to go through.


MWD Resolution 9123
8/10/2011 11:15:21 AM
WMWD Annexation Fee ChangePost: Nathan
I just wanted to make you aware of what is happening with WMWD in regards to this annexation fee modification. Some of you may have received a ballot from WMWD to vote on a proposed annexation fee change and while it sounds good, I encourage you to ask questions.

The Facts:
WMWD has an agreement with MWD prior to 1978 (pre Prop 13) to pay back annexation fees via your property taxes.

WMWD states in this mailer that this process will take forever to pay back the fees in this manner.

They state the resolution allows them to stop the taxation for payment on your property by either 2020 or 50 years from inception.


Questions:
1. How are they then going to recapture those fees? Larger bills?
2. Do the fees simply get waived? Doubt it.
3. Who is in Annexation No.11, who does this affect?
4. Does this vote stand for all annexation areas, or just No.11?

I am still waiting to receive a copy of the resolution 9123 so I can look through it and let you know. I will get back to you when I know more.

PLEASE READ IT CAREFULLY BEFORE YOU VOTE!

Ballot / Mailer sent to some residents.
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