Quote:
Originally Posted by Hawkwind
Z
Thanks for checking but if you look at any of the homes that I used in my example on Lake Ridge drive and then look at the payment history you will see that there are three lines in the Non-Ad Valorem Assessments.
UNIT xxx SPEC ASMT-MAIT $1,665.82
UNIT xxx SPEC ASMT-BOND $3,914.12
VILLAGES FIRE DISTRICT $81.00
Total Assessments $5,660.94
If the $3,914.12 is interest only then do you receive another statement of what the bond principle is for that year? Do you write out two checks, one for your taxes and another for bond principle? I am well aware of the maintenance fee and how it can change from year to year.
I will play around and try to find some homes that are north of 466 to see how they pan out. If the ASMT-BOND is only interest then a 10 year old home would show a decrease in the figure over time.
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You cannot pay down your bond principle. You either pay the entire bond off in July or you pay the interest payment that year.
The line UNIT xxx SPEC ASMT-MAIT $1,665.82 is your share of what the CDD determined it needed to maintain your district for the coming year.
The line UNIT xxx SPEC ASMT-BOND $3,914.12 is your bond interest for the year.
I do not have a bond so I do not have the ASMT line. I had to look at a few other houses in the area to see the ASMT line.
I think it is a fixed 30 year "loan" so it will never decrease.
I just read it yesterday.
http://www.districtgov.org/howDoI/PayBond.aspx