Quote:
Originally Posted by golfing eagles
It would be interesting to know EXACTLY how the bond is calculated. For example, to use unit 218 as opposed to 152:
Designer
VILLAGES FIRE DISTRICT 81.00 $81.00
UNIT 152 SPEC ASMT MAIT @ 692.3600 $692.36
UNIT 152 SPEC ASMT BOND @ 2003.9400 $2,003.94
Total $2,777.30
This is 14% higher than unit 152
It seems that newer units have higher bonds, yet if they are using actual cost of building the infrastructure, given the nature of diesel fuel and asphalt, I would think those costs would have been higher when oil was $145/barrel
I suspect there is some strange formula at work, such as # of feet of road divided by # of homes in unit, but that doesn't explain why the premier units are double. Looking at the map of designer vs. premier units, I can find , at most, about a 20% higher ratio in premier units, but even that would not account for the lower cost of sewer and water connections to less homes in that unit.
So, my new suspicion is that the average value of a home in a given unit is playing a role in the calculation, yet another "progressive" tax and income redistribution.
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From
Village Community Development Districts web site.
I don't see anything here that supports your "suspicion". Perhaps you should call the Finance Department and ask.
Frequently Asked Questions
What is the Bond Debt Assessment for?
The bond debt assessment reflects each lot’s proportionate share of the cost of building the infrastructure within its District or for which its District has responsibility. It is the most equitable method of distributing costs between the properties that benefit from the infrastructure. Infrastructure includes storm water systems, underground pump stations, water retention areas, curbs, gutters, streetlights, transportation trails, underground piping, etc.
How does the District arrive at the amount? Does everyone pay the same amount?
The Bond Debt Assessment was set at the time the bond used to build the infrastructure was issued. The formula for calculating each lot’s proportionate share starts with the total cost of the bond (including interest) issued to pay for the infrastructure. That cost is divided equally among each assessable acre in the “phase” of the District for which the bond was issued. That gives you a cost per acre. The cost per acre is then multiplied by the number of acres in the unit in which you live. That gives you the obligation for the unit as a whole. The unit total cost is then divided by the number of lots or parcels in the unit, and that computation gives you the amount of the assessment levied against each property. Therefore, each lot within a unit pays the same amount. Amortization schedules for each unit are located on the Districts' website;
Village Community Development Districts under the Finance Department link.