[villages07]

BTK...perhaps, but, the maintenance assessment/benefit is for infrastructure (bond) which is not the subject of the IRS investigation.

The IRS is only questioning the tax-free status of the recreation/amenity bonds.

I'm sure you know this, but, I just want to be sure all TOTV readers see these two things as different entities.

Infrastructure bond ... CDD assessment - paid by individual homeowner as part of their property tax bill. Bonds are considered municpal tax free bonds and are not in question by IRS.

Recreation bond.... Central districts float bonds to purchase recreation facilities from developer. We, the residents, pay off those bonds via our monthly amenity fee to the central district. These are the bonds that the IRS is questioning whether they should be tax free (and whether the purchase price of the amenity was determined fairly)