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Old 08-12-2007, 11:36 AM
REDCART REDCART is offline
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Default Re: JUST HEARD - NO CLOSING COSTS ON NEW HOMES

LG, I appreciate your thoughts but each Village has no legal standing, it's just the developers marketing of TV. That being said, the individual village could not have any bearing on the bond which was issued by the CDD. The size of the property within a CDD would be more accurate. So that the same size property in Mallory or Virginia Trace or Amelia would be the same because they're all within the same CDD. Now, I have to admit that I've never been to CDD school which is offered to anyone interested. The followeing info was taken directly from the CDD web site.

The Cost of a CDD

The cost to operate a CDD is borne by those who benefit from its services. Property owners within the numbered CDDs within The Villages are subject to a non-ad valorem assessment, which appears on their annual property tax bill from the county tax collector and may consist of two parts—an annual assessment for operations and maintenance, which can fluctuate up and down from year to year based on the budget adopted for that fiscal year—and an annual capital assessment to repay bonds sold by the CDD to finance community infrastructure and facilities, which annual assessments are generally fixed for the term of the bonds. Because costs and services vary depending upon the individual CDD, specific fee information is available for each community.