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Originally Posted by Indydealmaker
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!
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Worst case scenario is less than $5,000/house.
I don’t think so. The IRS is not after me/you or the developer. The IRS is after the CDD. It is my understanding the amity fees are caped at $155/mo. The CDD may have to take money from the flower fund or sell a golf course. The way I see it, it is not my problem. If the IRS seizes the golf course and sells it and a trailer park is built on the golf course my property value would be my problem. However I would not loose my house because I could not pay the $5,000.
Can I have an amen.
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MI, Pontiac, Waterford, Southfield, Farmington, FL.--> Ron's my name and pool's my game.
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