[elbear]

I read somewhere there may be changes in bonds on new homes. Does anyone know any particulars?
How much is the bond on a new Iris? Tax on the bond?

[Ragman]

Originally Posted by elbear

I read somewhere there may be changes in bonds on new homes. Does anyone know any particulars?
How much is the bond on a new Iris? Tax on the bond?

Bond is dependent on the Unit of homes, i.e. 212 Gilchrist, not the individual lot. See the VCDD website.

Bond interest is not tax deductible although a lot of people do it knowingly or not.

Don't know of any changes in the bond structure.

[784caroline]

The total dollar amount of the bonds will stay relatively the same, but the VCDD's have recently started refinancing the bonds to provide a lower interest rate so the monthly payments will start to be lower on some bonds.

[KeepingItReal]

Originally Posted by elbear

I read somewhere there may be changes in bonds on new homes. Does anyone know any particulars?
How much is the bond on a new Iris? Tax on the bond?

Lots of information on previous threads. Here is one of many:

Pay off Bond or Not?

Bond is determined by the unit and assigned to each lot or villa in the unit, not determined by the model of the home.
Interest you pay on the bond is usually 6-7% yearly. Neither the bond payment nor the interest you pay on the bond is (not) tax deductible.
Taxes are regular property taxes to the county plus the annual maintenance fee to the Villages.

You can look it up here if you know what unit you are or will be in:

Village Community Development Districts

[Villageswimmer]

Thanks, Keepingitreal, I hadn't seen this before.

[784caroline]

Its what I thought...If you go to the VCDD sites mentioned previously you will see District 6 and below are less than 5% interest rate


District 7 will be refiinanced next year, and I assume districts 8,9 will follow.

[villages07]

Originally Posted by 784caroline

Its what I thought...If you go to the VCDD sites mentioned previously you will see District 6 and below are less than 5% interest rate


District 7 will be refiinanced next year, and I assume districts 8,9 will follow.

784... Maybe, maybe not..depends on the interest rate situation. I held some 6.5 and 5.8 CDD 5/6 bonds that were called but other 5.4 CDD 6 bonds were not called. Just not a big enough spread between original and 4% reissue rates to justify the expense to take the action.

I have some cdd7 that are 5.3 so will be interesting to see if they get called/refinanced next year.

[784caroline]

lyle

I also have the CCD#7 5.375% bonds. I certainly hope they stay around but they do have a callable date of 5/1/15 at par in addition to a sinking fund feature.