Quote:
Originally Posted by MplsPete
How does that work? $600 is not much but still?
What is the fee called after the bond is satisfied?
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There are 2 components to the fee. Both are billed to you with your property tax and paid to the county.
1. The bond. You have the option to pay this annually or to pay it off. Many pay it annually until you have decided that this is your forever home. If you move, you just get a new bond with the new home. The bond pays for building the infrastructure of the area where your home is located.
2. The maintenance fee. Each district creates an annual budget to maintain the infrastructure that the bond paid for. This is an annual expense and never goes away. Each district is different, depending on the amount of infrastructure and the number of homes sharing the cost. Mine is about $600. Some districts are more.