TomW
03-14-2008, 02:48 PM
We have visited three times in the last year and will retire in about two more years. I've talked to a number of officials with the CDD and county government but it is very tough to get a handle on the bond. When the developer sells the amenities and the future revenue stream that is the amenities fee to the CDD, that amount is apportioned to the land parcels (not the houses) in the CDD district based on (here it depends on who you talk to:
a. equally divided among all parcels in the district.
b. based on the square footage of the land parcel.
c. based on sq. ft. plus added value for corner, golf view, etc.
d. other?
One can either pay the bond at closing or have is added to the tax bill as an amortized payment over 30 years at an interest rate in the 4% area. Interestingly, officials say 4% but most residents will say 7%. It sure makes the no bond homes in Lake Co. appear attractive. Can someone tell me for sure how this bond thing works? Thanks!
a. equally divided among all parcels in the district.
b. based on the square footage of the land parcel.
c. based on sq. ft. plus added value for corner, golf view, etc.
d. other?
One can either pay the bond at closing or have is added to the tax bill as an amortized payment over 30 years at an interest rate in the 4% area. Interestingly, officials say 4% but most residents will say 7%. It sure makes the no bond homes in Lake Co. appear attractive. Can someone tell me for sure how this bond thing works? Thanks!