Quote:
Originally Posted by LuvtheVillages
All newly built homes have a bond debt. You acquire the bond debt when you purchase a home. You pay it annually on your property tax bill.
Homes in the "historic section" have no bond.
Older homes have been paying on their bond annually, and the amount is therefore reduced.
Some homeowners have chosen to pay off their bond instead of making annual payments. They still have to pay the annual maintenance fee with their property tax. But they are saving the interest expense and the annual administration cost.
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I would add that some villages in the county of Lady Lake, such as Pine Hill & Pine Ridge never had bonds. Of course their taxes are a bit higher.