CDD Maintenance Non-Ad Valorem Assessments

[rsimpson]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??

[retiredguy123]

The maintenance assessment is to maintain the infrastructure, such as roads, utilities, etc.
The bond is to pay to initially build the infrastructure. The bond is a 30 year loan with regular principal and interest payments. You can pay it off early if you want. The annual maintainenance assessments will continue forever.

[Bogie Shooter]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??

From the Sumter county tax collector web site.

The Villages Special Assessments
(352) 751-3900 Residential Bond Assessment Information (https://www.districtgov.org/departments/Finance/bond_info.aspx)
The Village District Office maintains all information
The Village District Office will provide Bond Payoff Inquires, Interest Rates, and Amortization Schedules.
The infrastructure of the The Villages District was built using Tax-Exempt Municipal Bonds. The Bonds are repaid with funds collected on the annual tax bill. The Maintenance Assessments are also billed on the annual tax bill to cover the maintenance and replacement of the infrastructure that was purchased with the Bonds.
The Board of Supervisors set the Maintenance Assessments, through Budget workshops each year by reviewing the operational needs of the Districts. The Maintenance Assessments are used to cover the cost of items, such as landscaping, deed compliance, road maintenance, wetlands and preserves, water retention areas, storm/gutter facilities, rights-of-way, transportation paths, walls, fences, utilities, insurance, etc. along with setting aside reserve funds for future projects.
In the Non Ad Valorem section of you tax bill you will find the Municipal Bond Assessment (Indicated with a “B”) and the Maintenance Assessment (indicated with an “A”).

[tophcfa]

The maintenance assessment is properly explained in the last couple of posts. We just got a notice in the mail that CDD1 (our district) is proposing a 15% increase in the annual assessment. I support the assessment and understand that with everything costing more there is a reasonable need for an increase. That being said, I find it disturbing that the required public meeting, providing those paying the assessment an opportunity to take part in public comments on the proposed assessments, is conveniently held during the summer when approximately half the homeowners aren’t in the Villages and can not attend. It seems like they are trying to sneak it through? Why not hold the meeting during the busy season and give the most homeowners possible a chance to be involved in the process?

[frose]

you probably did not over look this, you weren't told about about it.. wait it gets better

[Babubhat]

The maintenance assessment is properly explained in the last couple of posts. We just got a notice in the mail that CDD1 (our district) is proposing a 15% increase in the annual assessment. I support the assessment and understand that with everything costing more there is a reasonable need for an increase. That being said, I find it disturbing that the required public meeting, providing those paying the assessment an opportunity to take part in public comments on the proposed assessments, is conveniently held during the summer when approximately half the homeowners aren’t in the Villages and can not attend. It seems like they are trying to sneak it through? Why not hold the meeting during the busy season and give the most homeowners possible a chance to be involved in the process?

Speculative at best. Someone will always be inconvenienced.

[Bill14564]

The maintenance assessment is properly explained in the last couple of posts. We just got a notice in the mail that CDD1 (our district) is proposing a 15% increase in the annual assessment. I support the assessment and understand that with everything costing more there is a reasonable need for an increase. That being said, I find it disturbing that the required public meeting, providing those paying the assessment an opportunity to take part in public comments on the proposed assessments, is conveniently held during the summer when approximately half the homeowners aren’t in the Villages and can not attend. It seems like they are trying to sneak it through? Why not hold the meeting during the busy season and give the most homeowners possible a chance to be involved in the process?

The timing also coincides with the budget build just prior to the next fiscal year.

It can't be done during the busy season since that is just three months into the year and too early to determine what will be needed for the next year.

Besides, how many people would actually attend the meeting and comment anyway?

[dewilson58]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??

Welcome to The Villages.
Sorry you are experiencing a surprise.
I think it's fairly well discussed/disclosed
But in the scheme of things.......a minor surprise.

Enjoy!!!

[retiredguy123]

Regardless of what you were told or not told, the infrastructure needs to be maintained. That costs money. So, you will be paying an annual maintenance assessment, which will appear on your tax bill every year.

[rsimpson]

From the Sumter county tax collector web site.

The Villages Special Assessments
(352) 751-3900 Residential Bond Assessment Information (https://www.districtgov.org/departments/Finance/bond_info.aspx)
The Village District Office maintains all information
The Village District Office will provide Bond Payoff Inquires, Interest Rates, and Amortization Schedules.
The infrastructure of the The Villages District was built using Tax-Exempt Municipal Bonds. The Bonds are repaid with funds collected on the annual tax bill. The Maintenance Assessments are also billed on the annual tax bill to cover the maintenance and replacement of the infrastructure that was purchased with the Bonds.
The Board of Supervisors set the Maintenance Assessments, through Budget workshops each year by reviewing the operational needs of the Districts. The Maintenance Assessments are used to cover the cost of items, such as landscaping, deed compliance, road maintenance, wetlands and preserves, water retention areas, storm/gutter facilities, rights-of-way, transportation paths, walls, fences, utilities, insurance, etc. along with setting aside reserve funds for future projects.
In the Non Ad Valorem section of you tax bill you will find the Municipal Bond Assessment (Indicated with a “B”) and the Maintenance Assessment (indicated with an “A”).

Outstanding assistance - Appreciated, Bogie Shooter

[RICH1]

When people wanted Fast Food workers wages to be that of a Union Tradesmen, these kind of things happen… it’s a chain reaction

[tophcfa]

The timing also coincides with the budget build just prior to the next fiscal year.

It can't be done during the busy season since that is just three months into the year and too early to determine what will be needed for the next year.

Besides, how many people would actually attend the meeting and comment anyway?

A fiscal year has nothing to do with a calendar year. With a little foresight, the fiscal year could have easily been scheduled so the budgeting process could have been coordinated with the season when the most homeowners would be available. It certainly doesn’t take a rocket scientist to figure out the summer is not the optimal time in a Florida retirement community.

Despite the fact that meeting turnout is typically sparse, it would almost certainly be better attended during the season when most homeowners are in the area.

[Luggage]

The real question should be what is your total tax burden, compared to being outside of the villages such as being in Leesburg proper in a normal home without golf courses or 50 pools?
I live in a senior community in Lake county and my taxes for a 2000 foot home is approximately $1,300 a year, my HOA fees which do not include going to the golf course for free, but do include cable and high-speed internet or roughly $212 a month. We don't have a bond to pay off either. So basically you do get what you pay for more or less, we chose less as we do not golf and we have less flowers than you do and a much less restrictive HOA covenant.

[Sabella]

Welcome to The Villages.
Sorry you are experiencing a surprise.
I think it's fairly well discussed/disclosed
But in the scheme of things.......a minor surprise.

Enjoy!!!

A lot of important $ information was not discussed/disclosed when I purchased.

[HoosierPa]

you probably did not over look this, you weren't told about about it.. wait it gets better

Buyers and Residents have a responsibility to put in a little effort to educate themselves. Not everything is a conspiracy just because an elected official didn’t come knock on your door and hold your hand.

[Dsalmiery]

you probably did not over look this, you weren't told about about it.. wait it gets better

What else??:22yikes:

[dewilson58]

A lot of important $ information was not discussed/disclosed when I purchased.

Whoops.............Sounds like significant issues with your Due Diligence process.

[jamorela]

The real question should be what is your total tax burden, compared to being outside of the villages such as being in Leesburg proper in a normal home without golf courses or 50 pools?
I live in a senior community in Lake county and my taxes for a 2000 foot home is approximately $1,300 a year, my HOA fees which do not include going to the golf course for free, but do include cable and high-speed internet or roughly $212 a month. We don't have a bond to pay off either. So basically you do get what you pay for more or less, we chose less as we do not golf and we have less flowers than you do and a much less restrictive HOA covenant.

Interesting! Where do you live?

[westernrider75]

Our realtor explained what and how much these charges would be during the hours we spent with her in the shopping for a home process.

[sallyg]

Funny how they forgot to mention it.

[Joe Sacco]

I probably spent 20 hours over the six months prior to moving researching fees, what I wanted to improve on a new house and local laws and rules. I had no problems or surprises and bought my house in 7 days. I believe most all information I needed was available on line, no surprises.

[joelfmi]

Never a true word spoken. CDD bonded homes to buy are not the best homes to purchase for a number of reasons,

[Bill14564]

A fiscal year has nothing to do with a calendar year. With a little foresight, the fiscal year could have easily been scheduled so the budgeting process could have been coordinated with the season when the most homeowners would be available. It certainly doesn’t take a rocket scientist to figure out the summer is not the optimal time in a Florida retirement community.

Despite the fact that meeting turnout is typically sparse, it would almost certainly be better attended during the season when most homeowners are in the area.

I don't know the history of starting a fiscal year in October (or even January) but it seems to be the choice of most government bodies in the US. It is probably true that whoever created the first October-based fiscal year did not have the foresight to see that it would cause problems for some who live in a retirement community in Florida and choose to be away from home in August and September. However, I seriously doubt the October fiscal year was chosen for most government bodies so that they could sneak things past Florida retirees.

[Bill14564]

Never a true word spoken. CDD bonded homes to buy are not the best homes to purchase for a number of reasons,

Why would someone who doesn't own a home here and feels our homes are not the best homes to purchase be commenting on these boards?

[Altavia]

Never a true word spoken. CDD bonded homes to buy are not the best homes to purchase for a number of reasons,

But yet over 100 new homes per week continue to sell within days is appearing on market.

[Bill14564]

Funny how they forgot to mention it.

I know I was told how much the annual tax bill would be and that it included a bond that could be paid off. That was the information I needed to know. I did not go over the bill to ask what each of the six lines were, whether they could be changed, who had the power to make a change, and when the change would occur.

I don't feel there was any attempt to deceive me, that just wasn't a level of detail that mattered at the time of purchase.

[retiredguy123]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??
In the "Cost of Living" section of "thevillages.com" website, maintenance is included in the average monthly cost breakdown. They have a monthly cost breakdown for each type of house. For designer houses, it is stated as:

Average Development District Assessment
(bond + maintenance + fire)
$220.00

[golfing eagles]

Funny how they forgot to mention it.

It's called due diligence, not a bad thing to practice on what is probably the largest purchase in most people's lives. The info that "they forgot to mention" is just a few clicks away. Did they mention you shouldn't play with alligators? Did they tell you there are unscrupulous contractors out there? Did they tell you that 1/2 the drivers are clueless in a RB? They are salespersons, not nannies.

[Dlbonivich]

This should be disclosed on a community development district disclosure signed by you and the seller. I also always provide my buyers with a copy of the tax record , which would also show it. I am a realtor. Not sure you used one.

[Larchap49]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??

Don't feel alone. When I purchased 2 years ago the maintenance fee was never mentioned everything else was noted but that was an unexpected surprise when the bill came.

[Blueblaze]

The maintenance assessment is properly explained in the last couple of posts. We just got a notice in the mail that CDD1 (our district) is proposing a 15% increase in the annual assessment. I support the assessment and understand that with everything costing more there is a reasonable need for an increase. That being said, I find it disturbing that the required public meeting, providing those paying the assessment an opportunity to take part in public comments on the proposed assessments, is conveniently held during the summer when approximately half the homeowners aren’t in the Villages and can not attend. It seems like they are trying to sneak it through? Why not hold the meeting during the busy season and give the most homeowners possible a chance to be involved in the process?

A mere 15% increase! Oh wait, didn't the Gooberment just tell us that inflation is only running 8%? That evil CDD board must have access to the economy or something! It's a wonder they didn't raise it 50%!

Maybe we need to show up at next year's meeting and make them pass a rule that says they have to live with the same raise the Social Security Administration gave us!

[G.R.I.T.S.]

These open meetings are during the budget process, which occurs before the new fiscal year. Our home city held theirs just before the end of the fiscal year, which was June 30. I'm sure other cities/states have different fiscal years. It just so happens TV's begins July 1. Florida has pretty strict Sunshine Laws, as evidenced in the ongoing dispute with the ousted county commissioners. I don't believe the CDD is "hiding" anything pertaining to budget matters by holding public meetings during the budget process.

[Bogie Shooter]

A mere 15% increase! Oh wait, didn't the Gooberment just tell us that inflation is only running 8%? That evil CDD board must have access to the economy or something! It's a wonder they didn't raise it 50%!

Maybe we need to show up at next year's meeting and make them pass a rule that says they have to live with the same raise the Social Security Administration gave us!

Easy to criticize from afar, without any facts.

[golfing eagles]

Easy to criticize from afar, without any facts.

C'mon, you know better. This is, after all, TOTV:1rotfl::1rotfl::1rotfl:

[Bogie Shooter]

The real question should be what is your total tax burden, compared to being outside of the villages such as being in Leesburg proper in a normal home without golf courses or 50 pools?
I live in a senior community in Lake county and my taxes for a 2000 foot home is approximately $1,300 a year, my HOA fees which do not include going to the golf course for free, but do include cable and high-speed internet or roughly $212 a month. We don't have a bond to pay off either. So basically you do get what you pay for more or less, we chose less as we do not golf and we have less flowers than you do and a much less restrictive HOA covenant.

No HOA in The Villages.

[Bogie Shooter]

Never a true word spoken. CDD bonded homes to buy are not the best homes to purchase for a number of reasons,

Another non villager weighs in...........

[jrandall]

A fiscal year has nothing to do with a calendar year. With a little foresight, the fiscal year could have easily been scheduled so the budgeting process could have been coordinated with the season when the most homeowners would be available. It certainly doesn’t take a rocket scientist to figure out the summer is not the optimal time in a Florida retirement community.

Despite the fact that meeting turnout is typically sparse, it would almost certainly be better attended during the season when most homeowners are in the area.

The counties throughout the State of Florida are on an Oct 1 Fiscal Year. The late summer months are when hearings occur regarding the budget. Just because there are more seasonals that own homes in The Villages does not require a change in how the State Counties conduct their fiscal process. If one is very interested to participate in hearings they are published in newspapers and the Counties websites.

[Bill14564]

No HOA in The Villages.

A rose by any other name....

No HOA fees, just amenity fees and maintenance fees.

No HOA covenants, just deed restrictions.

No HOA board, just CDD boards and ARC boards.

I suppose one difference is that HOA covenants can be changed while deed restrictions are all but permanent.

Is there any other significant difference?

[Regorp]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??
We come here on a fixed income, calculate what we can afford, buy that new home on a budget, then that fickle finger breaks your best laid plan with gimme more money. I love TV, but give us a bit more of a financial break, please

[golfing eagles]

We come here on a fixed income, calculate what we can afford, buy that new home on a budget, then that fickle finger breaks your best laid plan with gimme more money. I love TV, but give us a bit more of a financial break, please

Why???? Every home, every neighborhood in every town has a price point---the cost of the home and then the maintenance including taxes. Maybe we'd all like to live in Key Biscayne or beachfront in Naples, but can't afford it. No offense, but I would suggest that the fixed income and budget calculation was incomplete, not to mention the effect of inflation.

[Lisanp@aol.com]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??

The maintenance assessment is fully disclosed in your Purchase Agreement Contract. It was the very last last page of my contract. It is in Section 10 of the "Payment, Utility and Settlement Information" section of the contract. There it outlines the Estimated CDD Maintenance Assessment and gives you the period this assessment covers (October 1 to September 30) ANNUALLY as well as your CDD Debt Assessment (Bond payment) for the current year and the following year and then your total CDD fees (Assessment plus Bond)for the current year and the following year. Yes, the bond is amortized over 30 years and the interest rate is also disclosed in your contract and this can be paid off just like a mortgage. The Maintenance Assessment is annually and forever.

[Bill14564]

The maintenance assessment is fully disclosed in your Purchase Agreement Contract. It was the very last last page of my contract. It is in Section 10 of the "Payment, Utility and Settlement Information" section of the contract. There it outlines the Estimated CDD Maintenance Assessment and gives you the period this assessment covers (October 1 to September 30) ANNUALLY as well as your CDD Debt Assessment (Bond payment) for the current year and the following year and then your total CDD fees (Assessment plus Bond)for the current year and the following year. Yes, the bond is amortized over 30 years and the interest rate is also disclosed in your contract and this can be paid off just like a mortgage. The Maintenance Assessment is annually and forever.

One small difference between the bond loan and a mortgage loan. You can make accelerated payments on a mortgage that are not accepted on the bond. The two options for the bond are to pay the annual amount or to pay it off entirely.

[RichardDonnaH]

The real question should be what is your total tax burden, compared to being outside of the villages such as being in Leesburg proper in a normal home without golf courses or 50 pools?
I live in a senior community in Lake county and my taxes for a 2000 foot home is approximately $1,300 a year, my HOA fees which do not include going to the golf course for free, but do include cable and high-speed internet or roughly $212 a month. We don't have a bond to pay off either. So basically you do get what you pay for more or less, we chose less as we do not golf and we have less flowers than you do and a much less restrictive HOA covenant.

Hi
May we ask what community you are in? We're looking to relocate and think the Villages may have to many fees.

Thank You

Richard Donna

[UsuallyLurking]

The budget process actually begins in April/May, depending on the district or board in question (in my area, the AAC had its budget workshop in April, and the CDD had its workshop in May). The most important meeting in that process is in fact the workshop, where the staff presents scenarios to the board and the board discusses them and possible changes. By law, a preliminary budget must be approved by June 15 and the final budget must be approved by September 15. For CDD 4, there were three members of the public who attended the workshop: two of us who regularly attend all the meetings we can make, and someone who moving into the district.
I agree with others that the fact that the fiscal year begins on October 1 is not a conspiracy against us. There are opportunities in late spring to have an impact on the process, and the agendas and minutes of the subsequent meetings are available online.
One other note that you may or may not consider relevant to this conversation: The assessment rate/fee, set by the Board of Supervisors after input from the public (if any), is much smaller than the amenity fees, set by contract and increased based on the consumer price index. For me, on a yearly basis the amenity fee will be over four times greater than the assessment fee, even after a 20% hike in the assessment fee.

[Bogie Shooter]

Hi
May we ask what community you are in? We're looking to relocate and think the Villages may have to many fees.

Thank You

Richard Donna

You “think” what is too many, have you investigated, had a visit or just read non villager post on TOTV?

[Indydealmaker]

Even the most cursory inquiry into the CDD costs reveals the Annual Maintenance Assessment.

[tophcfa]

The counties throughout the State of Florida are on an Oct 1 Fiscal Year. The late summer months are when hearings occur regarding the budget. Just because there are more seasonals that own homes in The Villages does not require a change in how the State Counties conduct their fiscal process. If one is very interested to participate in hearings they are published in newspapers and the Counties websites.

True, but the CDD’s are not part of the state counties. The CDD’s are local Villages governing bodies. Anyone with even half a brain would have know when each CDD was formed that approximately half of the homeowners in the CDD’s would be seasonal residents, yet they set the fiscal year such that the the important budget meetings take place during the summer! Go figure?

[Marathon Man]

The real question should be what is your total tax burden, compared to being outside of the villages such as being in Leesburg proper in a normal home without golf courses or 50 pools?
I live in a senior community in Lake county and my taxes for a 2000 foot home is approximately $1,300 a year, my HOA fees which do not include going to the golf course for free, but do include cable and high-speed internet or roughly $212 a month. We don't have a bond to pay off either. So basically you do get what you pay for more or less, we chose less as we do not golf and we have less flowers than you do and a much less restrictive HOA covenant.

Someone who does not live in The Villages has over 800 comments on "Talk of The Villages". Makes me wonder - Why the interest?

[Carla B]

Hi
May we ask what community you are in? We're looking to relocate and think the Villages may have to many fees.

Thank You

Richard Donna

He may be speaking of Pennbrooke, which is on Hwy. 44 toward Leesburg. There are several developments in Lake and Marion Counties, as well. Some names that come to mind, although I have no details about their structure: Arlington Ridge, Legacy of Leesburg, Plantation, Scottish Highlands. In Marion County, Del Webb Spruce Creek, Stonecrest. Harbor Hills is a beautiful community on Lake Griffin but I believe it is an all-age community..

[Laker14]

Why would someone who doesn't own a home here and feels our homes are not the best homes to purchase be commenting on these boards?

ignore him. He's a bitter troll.

[Laker14]

I have to admit, I don't think I was paying attention if the maintenance assessment was explained, however, I think we can easily understand that it costs money to build infrastructure (which is what the bond is financing), and amazingly, the stuff doesn't last forever without needing some repairs or improvements from time to time. Maintenance is not paid for by the bond. We are assessed for those expenses as they arise.

I may not be the sharpest crayon in the box, but even I can understand that.

[Laker14]

When people wanted Fast Food workers wages to be that of a Union Tradesmen, these kind of things happen… it’s a chain reaction

Federal Minimum Wage: $7.25/ hour. Minimum Wage | U.S. Department of Labor (https://www.dol.gov/general/topic/wages/minimumwage)

Florida Minimum Wage: $10.00/hour. What's the Minimum Wage in Florida in 2022? | GOBankingRates (https://www.gobankingrates.com/money/jobs/minimum-wage-in-florida/)


New York Minimum Wage: $15/ hour. Proposed New York state minimum wage increases would lift wages for more than 2 million workers through 2026: Minimum wages would range by region from $16.35 to $21.25 per hour by 2026 | Economic Policy Institute (https://www.epi.org/blog/proposed-new-york-state-minimum-wage-increases-would-lift-wages-for-more-than-2-million-workers-through-2026-minimum-wages-would-range-by-region-from-16-35-to-21-25-per-hour-by-2026/)


California Minimum Wage: $15.75/ hour. July 2022 California Minimum Wage Increases - California Payroll (https://californiapayroll.com/blog/july-2022-california-minimum-wage-increases/#:~:text=Effective%20July%201%2C%202022%2C%20these ,Berkeley%20minimum%20wage%3A%20%2416.99%2Fhour)

Your post implies that these minimum wages are the same as what union tradesmen make. Is that really your position?

[Laker14]

We come here on a fixed income, calculate what we can afford, buy that new home on a budget, then that fickle finger breaks your best laid plan with gimme more money. I love TV, but give us a bit more of a financial break, please

Did you fail to calculate the effects of inflation?

[skippy05]

Yes, it is true you should have done better research before purchasing. The fees are indeed endless. However, good news, it is easy to sell at this time in The Villages and there are plenty of nearby options that are still 55+ and far fewer fees. And, you can still visit The Villages. Real options to consider....

[jmaccallum]

A lot of important $ information was not discussed/disclosed when I purchased.

Florida Real Estate Agents work as “Transaction Brokers” brokering only the transaction. They represent neither Buyer nor Seller and don’t have a fiduciary responsibility to either. Hence, they don’t have to disclose anything. Caveat Emptor.

[Blueblaze]

Easy to criticize from afar, without any facts.

What facts would those be? They raised the assessment 15%. The only thing that changed was the cost of delivering the same services as last year. The government and my social security check says the money is only worth 8% less than last year, not 15%.

What facts am I missing?

[retiredguy123]

Florida Real Estate Agents work as “Transaction Brokers” brokering only the transaction. They represent neither Buyer nor Seller and don’t have a fiduciary responsibility to either. Hence, they don’t have to disclose anything. Caveat Emptor.
Not true. If you are a Florida licensed real estate agent, you have a fiduciary relationship with both the buyer and the seller. That is the law. Having a fiduciary relationship is not the same as representing a client in a transaction.

[Bill14564]

What facts would those be? They raised the assessment 15%. The only thing that changed was the cost of delivering the same services as last year. The government and my social security check says the money is only worth 8% less than last year, not 15%.

What facts am I missing?

So you don't understand what the maintenance assessment goes towards. While there are some "same services as last year" the maintenance projects are an as-needed type of thing. It is likely that either the projects last year cost more than anticipated or there are some large projects expected in the near future. Both of those cases would necessitate collecting additional maintenance funds above what are needed to provide the "same services as last year."

[Rwirish]

Continue to leave the check book open while living in TV.

[Laker14]

Continue to leave the check book open while living in TV.

Yep. Like life in general.
I'm going to go way out on a limb here and predict that in 3 years food, medical insurance, and cars will cost more than today.
While I'm playing Nostradamus, I'm also going to predict that nobody working for the companies that maintain the infrastructure in and around TV are going to be making less in their wages than they are today.

[defrey12]

New Owner in March. I just received a notice about Annaul Maintenanc Assessment and increase to same fro the CDD. I don't recal this on any disclosures during the purchase process. Did I overlook this entirely? Is this the "Bond" payment they referenced? Do these $400-500 annual charges continue the rest of our lives??

Yep…How do you think the lawns are mowed and landscaping in TV is pristine? It’s not magic.

[Villages Kahuna]

Up north we called them “real estate taxes”.

[Marathon Man]

So you don't understand what the maintenance assessment goes towards. While there are some "same services as last year" the maintenance projects are an as-needed type of thing. It is likely that either the projects last year cost more than anticipated or there are some large projects expected in the near future. Both of those cases would necessitate collecting additional maintenance funds above what are needed to provide the "same services as last year."

Well said.

[Marathon Man]

Continue to leave the check book open while living in TV.

Name three places where that is not true. Cemetaries don't count.

[Bogie Shooter]

What facts would those be? They raised the assessment 15%. The only thing that changed was the cost of delivering the same services as last year. The government and my social security check says the money is only worth 8% less than last year, not 15%.

What facts am I missing?

See post #58. Couldn't have said it better...............