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Old 08-22-2007, 05:50 PM
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Villages Kahuna Villages Kahuna is offline
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Join Date: Jul 2007
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Default I Agree

Someone told me once never to pay taxes until you have to. The bond is a sort of tax. It's simply each homeowner's share of the municipal bond that was issued to pay the developer for his expenditures for land development.

At our house up north we had the opportunity to hook up to city water rather than continue to use our perfectly good well, but the only way was to pay the hook-up fee (the bond) of $15,000 up front. My wife really wanted city water so let's put the discussion of whether the decision was a good one or not to bed.

The argument was that houses with city water would sell better and you'd get your front-end bond payment back when you sold the house because your house would demand a higher selling price. Baloney! As far as I'm concerned, we got zippo for having paid the bond up front (although we did have city water).

We did not pay the bond up front in TV and I doubt that we ever will. You don't really have to make that decision right away. You have the opportunity to pay the balance due on the bond each year at tax time with no penalty.

But I totally agree that if you sell your house with the bond paid you will not get your money back thru a higher selling price. And I conclude that from sad, personal experience.

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