Quote:
Originally Posted by Mr.Kris
OK. Back on point.
Not true. There is a ton of data here Village Community Development Districts Also, you may want to read Chp 190 of the Florida Statutes concerning the operation of CDDs.
The facts and figures are not in dispute. That was settled through the TAM process.
The issue is the application of law, regulation, and case history (precedent).
The VCCDD may eventually win, but it is clearly at a disadvantage considering the IRS/Treasury assisted in writing the laws, wrote/implemented the regulations, and participated in the case history.
Read the background and you can form your own opinion as I have. |
To the best of my knowledge the IRS has never sued a CDD in Florida based upon this interpretation of their statute. That is what at issue here. Virtually, just an opinion. If it was just you and I, we would agree to disagree and go our own way, but the IRS is the 700 pound gorilla and they just won't compromise.
It would be interesting to see if the IRS targeting scandal will come into play on this since Morse is a well known conservative.
Worst case scenario is less than $5,000/house. Big dent in my Johnnie Walk Black budget!