Four Lakes Task Force, as the Delegated Authority for Gladwin and Midland counties, held a public hearing on January 15, 2024 to review the 40-year capital assessment roll and project costs to restore Secord, Smallwood, Edenville and Sanford dams. Following the public hearing, the Gladwin and Midland county boards of commissioners approved the assessment roll and computation of costs on February 6, 2024.
Now that the assessment roll is final and appeals are resolved, property owners may prepay their lake level special capital assessment by May 13, 2025 to avoid interest. Property owners are not required to prepay their special assessments and may choose to make annual payments with interest.
Now that the assessment roll is final and appeals are resolved, property owners may prepay their lake level special capital assessment by May 13, 2025 to avoid interest. Property owners are not required to prepay their special assessments and may choose to make annual payments with interest.
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How do I know my total assessment payoff amount?
Your final total capital assessment amount can be found by searching for your parcel on the 2025 Capital Assessment map. To search for your property, use the search bar located on the top right side of the map. Enter the parcel owner name or parcel ID number. In the pop-up box, scroll down to the "Capital Assessment Information" section. The "Total Capital Assessment Principal Amount (to be financed over a 40 year period)" is your payoff amount. What does the capital assessment pay for?
Capital improvement costs are fixed, one-time expenses to make the dams operable (engineering design, construction and repairs). Payments in connection with capital improvements will not occur until we finalize engineering plans, obtain all permits, receive construction bids, and conduct the Special Assessment hearing. How do I prepay my capital assessment?
You can pay in-person at the Midland or Gladwin County Treasurer offices. You can also mail a check to the county tresurer offices:
Can I prepay the 2025-2029 Operations & Maintenance assessment?
No, you cannot prepay this assessment. It will appear as a line item on your winter tax bill. Can I write one check for multiple parcels?
Yes, you can write one check to prepay your assessment for multiple parcels. If mailing your payment, please include your parcel numbers and assessment totals for each parcel. Will I receive a receipt for my prepayment?
Property owners will receive a receipt upon request when prepaying their assessment. IF I PAY OFF THE PRINCIPAL, AND THE PROJECT DOES NOT COST AS MUCH AS PLANNED, DO I GET A REBATE?
If there were factors such as project performance or new grants that lower the overall project and financing costs, then the property owner obligation is lowered. So yes, if you paid off the principal and there is a “rebate” it would go to the owner of the property at the time. The point being that if you sell your property, any future new obligation or rebate goes to the new owner(s). We do not expect any adjustment. If one occurs at all, it is likely to happen when the project is much further along in the 2025 or 2026 timeframe. |
Can I prepay my assessment to avoid annual interest charges?
Yes. Prepay your assessment by May 13, 2025 to avoid interest. All prepayments must be received by Gladwin or Midland county by May 13, 2025. What is the interest rate if I do not prepay?
The final interest rate will not be locked in until the prepayment deadline has passed and financing is secured. Why is there interest?
To complete the project, the remainder of the financing is secured by bonds. Can I pay after the deadline of May 13?
Yes. You need to contact the county to find out how much interest has accrued on your account to pay off your assessment. What happens if I don't prepay?
You are not required to prepay. The assessment amount will be spread over 40 years and will be a line item on your 2026 winter tax bill. |
Prepayments are due to the county in which the parcel is located by May 13, 2025.
