Have you driven down RR12 towards Fitzhugh and noticed a brand new 189 acre subdivision on the west side of the street?
It’s Dripping Springs’ newest subdivision development- Heritage! This beautiful neighborhood will be central to everything in Dripping Springs. You will be able to hear the band play during Friday night lights at the Tiger stadium just a stones throw away, walk new trails to the historic district on Mercer and hop onto 290 within minutes to get to Austin or Johnson City.
This neighborhood is Dripping’s second PID (public improvement district). This creates a higher tax rate for homeowners in the subdivision to help pay for the cost of improvements.
HOA: $135/quarter
Tax Rate: 1.8834%
PID: .7297%
Total Equivalent Tax Rate with PID: 2.6131%
*All calculations are estimates and provided for informational purposes only. Actual amounts may vary. – Taken from Tri-Pointe website
PIDs are typically established by a local government, and are funded through assessments on properties within the district. The assessments are based on the value of the property or on the benefits that the property receives from the improvements or services provided by the PID.
PIDs are created to address a specific need or issue within a community, such as a lack of infrastructure (in this case North Roger Hanks Pkwy). They can be an effective way to fund public improvements and services in a targeted way, and can help to ensure that the benefits of the improvements are shared fairly among home owners within the district.
The M/I model home is now under construction and home sales will begin in the spring of 2023. The anticipated price ranges for these homes will be $390-540k with a wide variety of ranch style and two story floor plans.
Tri-Pointe is currently building their model home, designed by Bobby Berk, and will be pre-selling homes from the mid $400ks-upper $500ks.
M/I Homes and Tripointe are the two builders who will be building 293 homes each on various sized lots for the next several years along with pocket parks, trails, a pool and amenity center with quick access to downtown Dripping Springs. The estimated build time for these homes is 8-10 months once you are under contract.
This neighborhood is currently zoned for Dripping Springs High, Dripping Springs Middle and Walnut Springs Elementary schools.
Are you interested in more information about this neighborhood? I’d love to be your go-to source for all things Heritage! I’m a local, Dripping Springs real estate agent and am excited to tell you more! I can represent you on the purchase of your new home in Heritage with M/I or Tri-Pointe and I can also sell your existing home when the time is right!
Just reach out to! 512-569-8480 or laurenclark@magnoliarealty.com
