Quote:
Originally Posted by eweissenbach
Add to that the bond is non ad-Valorem, meaning not tax deductible, and on most property they are at a higher interest than a mortgage.
|
So true. And that really sucks for 100% Disabled Veterans who are exempt from the Ad Valorem side of the tax bill.
Back in 2003, when the bond was 'only' $5000, we were told just think of it as part of your annual "property" taxes. Now with bonds of $30,000 plus, it's a huge chunk of the non-ad valorem bill every year. Though the interest we have to pay on those bonds is ridiculous, and I have paid off 2 bonds to get my tax bill down, I'm not paying off the 3rd one early. Selling 2 Bond Paid homes did not net that much difference in the price we got to make up for them.
Whether adding the cost to the price of a home or mentally considering it as a "property tax," new buyers definitely should consider the total cost which is over-inflated for what you get.
