§ 5.35.070. Property assessed—Restrictions on formation.

A.

The assembly may assess for an improvement any real property, or any interest in real property, directly benefitted by the improvement. The property to be assessed may include any property which is otherwise for any reason exempt from taxation by law.

B.

The legal description of parcels within the proposed district as of the date of the mayor's approval of the petition report under KPB 5.35.105 will establish the parcels for assessment. No subdivision, reversion of acreage, or lot line adjustment will be recognized for USAD assessment purposes after the mayor's approval of the petition report. In the event a property owner seeks to subdivide a benefited parcel after the date of the mayor's approval of the petition report or after costs are assessed under this chapter, the property owner shall be required pay off the remaining balance of the assessment, or prepay estimated costs if the final assessment has not been determined, prior to approval of the final plat pursuant to KPB 20.60.030. If prepayment of the estimated cost of the assessment is required, the subdividing property owner shall be issued a refund for any amount in excess of the prepaid estimated cost over the final assessment. If the petition or project fails for any reason, the borough shall refund the prepayment. If a final plat is not approved pursuant to KPB 20.60.030 and the subdividing property owner requests a refund of the prepayment in writing within 30 days of denial of the final plat, the borough shall refund the prepayment. If the estimated costs are less than the final assessment the subdividing property owner shall be responsible for payment of the difference, due within 30 days of the final assessment.

C.

In no case may a property be assessed an amount in excess of 50 percent of the fair market value of the property.

For the purposes of this restriction, the estimated amount of the special assessment lien against a parcel will be reduced by the amount of a prepayment of the assessment for the parcel that is received by the borough before the assembly acts on the resolution to form the district and proceed with the improvement. Any such payment shall be received no later than the close of business at least 15 days prior to the date the assembly is scheduled to act on the resolution to form the district and proceed with the improvement. If the assembly does not approve the resolution to form the district and proceed with the improvement, the borough shall refund the prepayment.

D.

In no case shall a special assessment district be approved for formation by the assembly under KPB 5.35.110 where properties which will bear more than 10 percent of the estimated costs of the improvement are subject to unpaid, past-due borough property taxes at the time the assembly approves the resolution to form the district and proceed with the improvement.

For the purposes of this restriction, the delinquent tax may be paid before the assembly acts on the resolution to form the district and proceed with the improvement. Any such payment shall be received no later than the close of business at least 15 days prior to the date the assembly will act on the resolution to form the district and proceed with the improvement.

E.

A special assessment district may not be formed under this chapter if one owner owns more than 40 percent of the total number of parcels to be benefited.

(Ord. No. 2018-27 , § 1, 9-4-18; Ord. No. 2015-12 , § 1, 6-16-15; Ord. No. 2009-25, § 3, 5-19-09; Ord. No. 2001-03, § 1, 4-3-01; Ord. No. 96-38, § 2, 1996; Ord. No. 94-26, § 1(part), 1994; Ord. No. 92-16, § 1(part), 1992)