Bond

[thompsj]

My wife and I are considering moving to TV. We had our Lifestyle Tour and found TV to be very nice. One of our concerns is "the bond". What is that and how does that work? What if we buy a pre-owned home? Is it tax deductable? What is the length of the bond? Or, is it a rip off?

Jimmy T

[carlent]

it goes on until you pay it off. In all counties except Lake county, there is also a bond maintenance due annually. Want to avoind it? Buy a resale in Lake county. No bond.....no bond maintenance. Or buy a resale that has the bond fully paid....but be carefull....you will still pay a bond maintenacne unless you are in Lake County.

[jeffy]

Not tax deductable.

jeffy

[jadebox]

Not a real big deal--just figure it in when you decide how much you can afford for a house.

[thompsj]

Thank you. How much is the Bond maintenance?

[JohnN]

I'm pretty sure the interest is tax deductible, that's been talked about before, but I'm new here

but figure it as just an added cost to the sale of the house (if there is a bond, lake county doesn't have one as noted, but if you buy new, it's in sumter)

[Muncle]

Please, please, please go to the "Search" function at the top of the page. There are roughly 4,637 posts in TOTV that address every aspect of the bond issue. A lot of people have spent a ton of time on research getting this information and have again taken the time to present it here. Much of it is very informative and a substantial amount is accurate.

In short, regardless of whether it's a new or resale, neither the bond nor its interest is tax deductable. You can, of course, work around this by using mortgage money (or home equity loan) to pay the bond. Then the interest is, of course, deductable.

Please, please, please see the other posts.

[thompsj]

Thank you all.

[JohnN]

reading back posts, it appears bond interest is NOT tax deductible, I stand corrected!