Bond Refinance Lowers Taxes For Some In Natomas

THE NATOMAS BUZZ | @natomasbuzz

A recent Natomas bond refinance will mean lower property tax bills for some north Natomas residents.

R. FEHR

Over the course of the past year, Sacramento Vice Mayor Angelique Ashby has worked with the City Treasurer Russ Fehr to identify ways the city can lower its financial burdens and at the same time provide a reprieve to Natomas homeowners on their property tax bills.

Last week, Fehr reported the city sold bonds refinancing debt in the Westlake and Regency Park Community Facility Districts (CFD # 2000-01 and #2001-03 respectively) in District 1. The two north Natomas communities, which are almost built out, served as an ideal test for possible future refinance of other city facilities districts.

The refinance lowers the bond interest rate while keeping the same term. Property owners will see a reduction of about $146 on next year’s tax bill per parcel in Westlake. Regency Park will see a per parcel tax reduction of about $135.

“This is terrific news for the residents of these two communities and a good sign of things to come for all of Sacramento,” said Ashby in a press released issued by her office. “I want to extend my appreciation to City Treasurer, Russ Fehr, and his team for their diligent efforts to find ways to reduce financial burdens for Sacramento residents through solid investment strategies.”

Questions regarding the specifics of the bond refinance can be directed to the City Treasurer, Russell Fehr at [email protected] or the Office of Vice Mayor Ashby at [email protected].