I realize the original OP was concerned about the advisability of paying off the bond. A lot of pro and cons have been presented giving the OP a lot to think about. One factor I would like to add is peace of mind. I don't think it has been mentioned and I, for one, do not like debt.
The thread has taken many turns and one of them mentioned how the bond is determined. I would like to clarify that by quoting from the FAQ section of the VCCD web page.
"How does the District arrive at the amount? Does everyone pay the same amount?
The Bond Debt Assessment was set at the time the bond used to build the infrastructure was issued. The formula for calculating each lot’s proportionate share starts with the total cost of the bond (including interest) issued to pay for the infrastructure. That cost is divided equally among each assessable acre in the “phase” of the District for which the bond was issued. That gives you a cost per acre. The cost per acre is then multiplied by the number of acres in the unit in which you live. That gives you the obligation for the unit as a whole. The unit total cost is then divided by the number of lots or parcels in the unit, and that computation gives you the amount of the assessment levied against each property. Therefore, each lot within a unit pays the same amount."
BTW, for the benefit of English majors, the qoute is an exact copy including misspelling.
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