Quote:
Originally Posted by Jakel
Hello, although I am new to the TV forum, I have read many things about the IRS situation, but several things I cannot seem to find out, and you all seem to know a lot about it, and I thought you could enlighten me.
My first question is who purchased the bonds?? Are these sold on the open market?? I know the residents purchase a bond when they buy a new home...it is app. $25,000 give or take depending on the costs of the property, but I thought that was a Bond for the roads and sewer etc. I am assuming we are talking about 2 different Bonds...am I correct??
My second question is....The Bonds that were sold totaled over 350 million dollars. Now I am not an appraiser, but I would think that a Golf Course would cost maybe 2 or 3 million, and a Rec center, maybe a million, a pool maybe $100K...so , it's a I am thinking that 350 million dollars could buy almost everything in the Villages, other than the homes, and they are paying for the roads and infastructure in their Home Bond. So who would agree to pay for Golf Courses and Rec Centers, assuming they were over their appraised value??
Finally, it seems that the people who would lose if the IRS comes down against the Bond issue, is the people who bought the Bonds and/or the Developer....how would the tax deductability of the Bonds affect the homeowners.
We really hope to move to the Villages, so we are just trying to be informed!!
(Please don't send me to read other threads)
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Jakel,
I hate to be the one to tell you this, but you REALLY need to read the other threads on the IRS topic.There are numerous insightful post from people alot smarter than me ( i heard you out there........who isn't???).I"ve read the newspaper accounts and the 100 page IRS report, talk about a cure for insomnia. I've concluded, in as simplified terms possible,.................if it looks like a duck, quacks like a duck, and walks like a duck, it's a duck.Good luck Mr. Morse and your legal team, is Perry Mason available??.
So what should one do until the IRS renders it's decision? For all you concerned wannabe's........RENT!!Come to TV and rent a place, enjoy the terrific amenities, and the fabulous Villagers and wait for the uncertainty to be resolved. Just don't stick your head in the sand and hope it all goes away, because it's not happening. Finally .......caveat emptor.