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Originally Posted by jayerose
Trying to figure out the above...
Property Taxes (Ad Valorem Taxes) are based on sales price of home.
Bond is to recover the costs of the infrastructure (sewer, water, streets, electric, cable, etc.) in your section. Some older homes may have the bond paid off.
CDD Maintenance Assessment Fees (Non-Ad Valorem Assessments) is to pay for improvements for the golf courses, recreation center, pools, etc). Can be from $100 to $600 per month depending on where you live.
Amenities Fee is used to pay for the upkeep of recreational facilities. $145 per month.
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Property taxes are based on assessed valuation and paid in arrears. So depending on time of year, if you buy a brand new home the assessment may only be for the land the first year. Also, if you plan on becoming a permanent resident there is a $50,000 homestead exemption on the assessment. Current tax rate for all ad valorem taxes is about $11.92 , at least in Sumter Co., Lake Deaton.
The bond amount depends on sale price, in a new home mine was about 6.25% of the purchase. It can be paid all at once, or amortized over 30 years at about 6% interest. Pre-owned homes may have paid down part or all of the bond. Some people hate "the bond", but in reality it is just a different way of paying for infrastructure. In a traditionally financed development, the same amount would have been added to the purchase price of the home.
Thee CDD assessment is non ad valorem but paid YEARLY on the tax bill---mine was $692.
The monthly amenity fee is around $145, it goes up a few cents each year