I had occasion to look into this question as I just listed the home at 13133 Alton Rd in the Alton Developement in Palm Beach Gardens which also includes Artistry.
I looked at the taxes and noted 2 non ad valorem line items paid to the Northern Palm Beach County Improvement district noted as N.P.B. CO. IMPROV. DIST. 2C DEBT and N.P.B. CO. IMPROV. DIST. 2C MAINT. What’s that all about?
Basically, Kolter made a deal. In Alton, ONLY Alton Rd,Grandiflora and Pasteur are owned by the City of Palm Beach Gardens. Many other roads, and the lakes, and the water collection system is owned by the NPCID. Why? It has a little to do with the fact the land was once going to beused for Scripts but basically there was a bond issued for 55M that was to…
And then there was an Amendment to this bond to increase same.
So basically, Kolter got the District to issue a bond for much of the site infrastructure like roads, lakes, sidewalks and landscaping and this non ad valorem charge is to to pay Principle and interest to the bond holders. The smaller non ad valorem line item is for the maintenance of the roads, lakes and such the district owns.
