About the District
The Banyan Cay Community Development District was established on January 28, 2019, by City Ordinance 4823-19 pursuant to F.S. Chapter 190 and is governed by a five-member Board of Supervisors elected by landowners within the District. The CDD may impose and levy assessments on the property to pay off bonds issued for capital improvements. All property owners within the CDD will be subject to annual assessments which are broken down in two components:
- The operation and maintenance (O & M) of the improvements
- Debt service (annual principal & interest) on the capital improvement bonds
The CDD utilizes the Palm Beach County Tax Collector to collect these assessments each year. The annual assessments appear in the non-ad valorem section of the property tax bill. The fiscal year is October 1st – September 30th.