What does the bond mean?

[suz1729]

I apoligize, I am new and don't know how to start a new message or Thread. I do have a question. I see some resales I am intersted in and some say Bond is paid or bond favorable. What does the bond mean please.Ty

[2BNTV]

Bonds
The purpose of the bond is to recover the costs of the infrastructure (sewer, water, streets, electric, cable, etc.) in your section. The bond is calculated based on the cost of the infrastructure for that section divided by the number of houses in the section. The annual amount of the bond payoff will be part of your property tax bill. I am pretty sure that the bond is a 30 year bond at 7% interest. It is like a 30 year mortgage. The bonds are fairly high south of 466. The bond goes down very little each year as most of the payment goes to interest. Be very sure to cover the bond, bond payment, length of the bond interest rate and payoff options with your sales rep or realtor. If you are buying a pre-owned property, be sure to find out how much is left on the bond.

Posted by Zcaveman under "Nuts and Bolts".

You might want to read all 3 posts in this section as they are very informative.

Hope this helps.

[hunt9791]

Another good source is the POA web site here in the Villages. It speaks to taxability [read deductibility]! You can also read about the IRS case against the new bonds North of 466.