Welcome to Victory Lakes, League City’s Master planned community with its own public improvement district.

What is public improvement district?

A public improvement district (PID) is a financing tool created under the Public Improvement District Assessment Act. Chapter 372 of the Texas Local Government Code.  A PID enables a neighborhood or a commercial area to make physical improvements, such as streets, landscaping, and parks or other significant improvements which benefit the area and its residents.  The cost of these improvements are spread among all property owners.

What has Victory Lakes done with its PID? 

Victory Lakes is located in League City PID #2.  Physical improvements like sidewalks, lighting, parks, and streets have been make to Victory Lakes and financed by PID #2.  The PID is what allowed all these improvements and beautiful improvements to be in place in Victory Lakes from the onset of the project.  All the improvements are owned and maintained by League City.

How do homeowners and Victory Lakes pay for the PID?

The financing for these improvements is accomplished by the sales of bonds and secured by the property owners of Victory Lakes.  Each homeowner has an annual assessment for no longer than twenty years. The assessment rates for sections one and two of Victory Lakes was established by the City Council of League City and the rate is $0.12 per year per square foot of land on each homeowners lot.  The amount of the assessment may be adjusted annually, however this requires a public hearing and appropriate notice to homeowners.  Of the four PID currently in place in League City, no adjustments have been made to the rates.

Is PID assessment like a tax?

The PID assessment is not a tax, but you can compare it to a city MUD tax in that it is part of the total cost of ownership of your home.  The benefit of PID assessment is that it has a maximum life of twenty years, unlike some taxes which have indefinite lives and may go on forever.

Below is an example of the estimated total annual cost of ownership of like homes, one in PID #2 and the other in a typical MUD tax district.

Galveston County MUD 6
Costs shown are estimates and are subject to change without notice, Purchaser should verify actual costs prior to purchase.  All tax rates are per $100 valuation.

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