Quote:
Originally Posted by Lou and Carolyn C.
(Just for clarification):
This probably has been stated somewhere before on this thread, however even though you pay off your bond there will always be an annual maintenance fee incorporated with your annual property tax bill, plus the monthly amenities fee, which is billed along with your water/sewer/irragation bill.
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Yes, this is correct. That's because the annual non-ad valorem assessment from TV on your property tax bill comes in two parts.
One part is the one-time bond on your home. That bond pays the initial capital cost of installing the infrastructure in your neighborhood (divided by the number of properties). There is an option every year, in July, to pay this off in full. Otherwise, it is paid over a 30-year period, with interest and an administrative fee.
The second part is to pay the Operations and Maintenance (O&M) budget for your Community Development District.
So, if you pay your bond in full, then your annual non-ad valorem assessment includes
only your share of your district's O&M expenses.