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Originally Posted by elevatorman
Here is a list of the bonds due for each area. It includes an amortization schedule. Intrest rates are hand written on each page. This one is only for Sumter County. Village Community Development Districts |
Thanks Elevatorman, that's a good chart to look at. For example, someone in district 5, with a total bond of about $11,000, will, over 30 years pay about $11,000 in principal, $14,000 in interest, and $1600 in administrative fees for a total of $27,000 (at 6.5% interest). That's almost 2 1/2 times the original amount of bond. At that interest rate, if you think you're going to be in your house for awhile, it appears it would make financial sense to pay off the bond. As Gracie mentioned, if you think you're going to move, it might not be worth it. Although, a caveat, some buyers look at houses with Bonds paid as a big plus, so it can be a selling factor for your house, but you may not recoup the total amount you spent on the bond.