How PID Works
A PID (Public Improvement District) is a defined geographical area established to provide specific types of improvements or maintenance within the area which are financed by assessments against the property owners within the area.
At Preston Manor, these improvements include the clubhouse, gym, multiple swimming pools, parks, tennis courts, dog park, walking trails, and recreational fields (coming soon!). Most assessments are paid in full at the time of purchase by the builder, however, some pre-existing homes still carry a small balance that is paid back yearly through your yearly tax payment to Lubbock County.
Additionally, every lot will carry a yearly M&O (maintenance and operations) payment to maintain all improvements in the neighborhood. This is NOT an HOA payment, however, it can be compared to an HOA payment in the sense of purpose.
In Preston Manor, regardless if there is a current lot balance or not, the max per year, as of 2021, a homeowner can expect to pay $1565. If there is no lot improvement balance that yearly total can be expected to be around $875.