PIDs are created to fund public improvements such as parks, trails, roads and utilities. Mariposa’s water and wastewater infrastructure including treatment plants, water storage facilities, and transmission lines were funded through a PID. Once the improvements were installed, bonds were sold by the municipality to reimburse the developer for the costs of the public improvements. The repayment of principal and interest to the bondholders is handled in the same manner as a resident’s property taxes, the amount of each homeowner’s annual PID payment appears on the owner’s County tax statement and is paid semiannually along with all of the other typical taxes assessments levied for the area.

At Mariposa, residents have the option to make an early pay-off towards the PID assessment, or can pay over time. When a resident sells his or her home, the remaining PID assessment simply remains in place and the new owner assumes the assessment balance through their county tax payments.

The PID at Mariposa can be funded through the home mortgage and is approximately $900 to $1,200 annual per home through 2032. Currently, many of our builders are offering generous incentives, which significantly reduce the cost to the buyer. To learn more about PIDs please visit www.RRNM.gov