Quote:
Originally Posted by KeepingItReal
Bond amounts are determined by the unit number where the home is located . The unit number is right before the lot number. (Unit 227- Lot 106) = 227-106
Villas have a unit number but are also listed by name.
Anyone can find their bond amount, interest rate, and annual administrative fee amount for their unit at this link:
Village Community Development Districts
Example: The Megan Villas has 62 lots platted Bond amount is $13,338.17 @ 6.963% yearly interest. The additional administrative fee is $67 per year.
The average annual assessment for 30 years $1,114.87. |
Who gets away with charging 6.93% yearly interest in this day and age? After paying $1114.87 per year for 30 years, you would wind up paying $33,446.10 plus fees, for the $13,338.17 bond And from what I understand that interest is not tax deductible.
IMO, it would be better to add the cost of the infrastructure into the price of the new homes like a lot of developers do. Obviously, having the bonds separate keeps house prices lower.