Taxes and Assessments
At this time LAMSBD may levy annual assessments up to $2,400 per lot, and for the 2022-23 budget year, the annual assessment is $2,400 per lot. Any future increase in the annual assessment (Non-Ad Valorem tax) must be approved by a majority of lake residents.
The 1 mill Ad Valorem tax, that was approved by a referendum by a majority of lake residents, is not levied at this time. If needed, LAMSBD could levy the 1 mill without an additional vote of the residents since it is already approved. The Charter allows an Ad Valorem tax up to 3 mills, but anything over 1 mill requires a majority vote of the lake residents.
Taxes and Assessments are collected by Clay County, Florida, www.claycountytax.com, Your assessment will appear on your property tax bill sent to you by the county or will be included in your monthly mortgage payment.
All cash resources of the District are entirely covered by Federal Depository Insurance or by the Florida Security for Public Deposits Act (FL CH 280).