Quote:
Originally Posted by KEVIN & JOSIE
I was reviewing new home bonds at 30K plus range and at interest rates between 3 and 5 percent. It feels like with your new home purchase you accept this bad debt. Can you explain another way of looking at it? Thanks
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Bond is a debt on your home/land plus land that never goes away. TV issues tax free bonds to finance future construction - homes commercial etc - we pay for it for 30 years or if you want to pay it off .
Components are bond mainyence which is roads sewer etc the house portion and fire assessment.
After it’s paid off you continue to pay interest on those bonds in perpetuity as a non ad Valorem item called HOA/maintenance
So its never really paid off as fees continue.
This was discussed with TV taxing people fL Dept of revenue
Wildwood.