The following Expert Advice question is an excerpt from the January 2022 Edition of the WACOAN: The Education Issue. Please click here to read the full version of the WACOAN.
Wacoan: What is a PID and how does it impact the sale of real estate?
Melissa Harrell: A PID is a Public Improvement District that has been established by the city or county that allows them to assess a special “tax” to pay for certain improvements within the PID. If you are selling real estate located in a PID you must provide a notice to buyers regarding the PID prior to execution of a contract. The PID notice may be an addendum to the contract or be given separately and signed by both the seller and the buyer. You can check with the county clerk’s office to find the location of a PID.