In Nevada, What is a SID and LID?

A SID or LID is placed on a property when the city/county installs streets, fire hydrants, sewer plumbing and street lighting in an undeveloped portion of land that a developer is building on.  The costs associated with installing these features, is placed upon the home builder/developer.  The developer can choose to pay the loan/bond back or they can relay the cost on to the home buyer by one of two ways:  if the builder chooses to pay back the funds immediately, they tack the cost onto the price tags of all the homes in the development.  If the builder chooses not to add the costs of Special or Local Improvements, the costs get placed onto the buyer by way of SID or LID that is generally a few thousand dollars per home, paid twice a year, amortized over 10-20 years.  To find out if a home you are buying has an assessment, go to: www.amgnv.com the Assessment Management Group’s website.

If a homeowner does not pay their assessment bill on time, they have the right by law to foreclose upon your home, just like an HOA or CIC.  The SID or LID "runs with the land" or carries over to the next homeowner if not paid off during the original buyer's occupancy and may be paid in full at any time.

The following are what the abbreviations stand for:

SID - Special Improvement DistrictLID - Local Improvement DistrictHOA - Homeowner's AssociationCIC - Common Interest CommunityCFD - Community Facilities District

Summary:  SIDs and LIDs are before a home is built, but after the homeowner takes possession. SID/LID assessments are common in Nevada.

Jennene Shanholtz & Lonnie Stibor Prudential Americana Group RealtorsJ: 702-596-2005 or L: 702-371-4305JenneneS.VegasRealEstate@yahoo.comJenneneSVegasRealEstate.comLonnieS.VegasRealEstate@yahoo.comLonnieSVegasRealEstate.com

Note: If your property is currently listed with another broker, this is not a solicitation. Information deemed reliable but not guaranteed.