Annual assessment of benefits and damages; schedule; limitation on assessments

Sec. 14. (a) The commission may make an annual assessment of benefits and damages within an improvement and maintenance district for the purpose of defraying part or all of the cost of an improvement and maintenance project. The assessment of benefits and damages must comply with the formula contained in the resolution establishing the district. (b) The commission shall annually prepare a schedule that describes each parcel of real property in an improvement and maintenance district that it determines to be benefited by the improvement and maintenance project, and states the percentage of the total benefit that is received by each parcel of real property. (c) The commission may retain or employ qualified personnel for necessary technical or consulting assistance. (d) After determining under subsection (b) the percentage of benefit that is received by each parcel of real property, the commission shall consider the fiscal needs of the improvement and maintenance district that need to be defrayed by the assessment of special benefits, and shall apply the percentage for each parcel as determined under subsection (b) to the total amount that is to be defrayed by special assessment, and determine the assessment for each parcel. (e) The total of the assessments established under subsection (d) may not exceed either: (1) the sum of the amount set out in or proposed for the budget of the improvement and maintenance district; or (2) the amount of any limitation on the assessment that would be levied as set forth in the resolution that established the improvement and maintenance district.