City Council reviews and approves the Downtown Plano PID assessment every year. During a public City Council meeting, all property owners within the PID boundary are invited to attend the meeting and address any concerns related to the assessment on their properties. Council also approves the project plan and budget.
The assessment is based on 2017 Collin County Appraisal District appraisal values. The assessment base is only recalculated if a property is sold or improvements, valued at $200,000 or more, are made to a property. The maximum amount a property can be assessed is $0.15 per $100 of assessed taxable value, with a cap of $25,000.
The City of Plano makes an annual contribution of $50,000 to the PID fund.
Every year, the Downtown PID Advisory Board recommends an assessment plan and service plan for City Council’s consideration. The assessment plan outlines PID income, including the annual assessment and the City’s contribution. The service plan sets the budget.