Quote:
Originally Posted by Stu from NYC
The bond gets paid to Sumter County? That is surprising to me thought it would be paid to an entity of the Village.
Why can they not use regular English?
When do you normally get invoice for bond an real estate tax? Will be the first one for us.
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The tax bill typically comes out in early November. The bond payments for principal and interest are paid with the tax bill to the county, but I don't think the money actually goes to the county. It goes to the company who is hired to service the bond debt. It is a loan that you are paying off.
The developer borrows money from a bank or other financial entity to build the infrastructure, and then requires the home buyers to assume the loan. The loan payments show up on the county tax bill as a convenience to you and the lender.