BOND and when to pay?

BOND and when to pay?

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  #11  
Old 02-03-2014, 06:19 PM
REDCART REDCART is offline
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Quote:
Originally Posted by gryoung View Post
The admin fee that you're referring to is on the tax bill, or is it something that get's added to the bond "payoff amount"?
The Bond Amortization Schedules on the VCDD web site breaks down the annual bond payments as: Principal, Interest, Administrative, Total, and Balance. The Administrative fee declines slightly each year so it must be a fixed percentage of the balance. In our case the admin fee for the next few years is around $40. So I'd like to believe once the bond has been completely satisfied, that there's no longer an administrative fee charged (collected via the real estate tax collector.)

  #12  
Old 02-03-2014, 08:44 PM
Carla B Carla B is offline
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yes, when the bond is paid off the administrative fee goes away forever.
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Old 02-04-2014, 05:14 AM
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Thanks for info, ya have to pay it all or continue getting hit yearly with that interest. Summer in Canada sounds good to this Canuck after this past Florida one. Thanks again eh.
  #14  
Old 02-04-2014, 08:43 PM
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Originally Posted by thomas47 View Post
Thanks for info, ya have to pay it all or continue getting hit yearly with that interest. Summer in Canada sounds good to this Canuck after this past Florida one. Thanks again eh.
Paying off a bond does save a lot of interest if you stay in one home. The only negative about paying off the bond happens if you decide to move. Resale purchasers do like the idea of buying a bond-free home, but strangely, it doesn't make a big difference to the bottom line that they are willing to pay.

At least that was our experience when we sold our bond-free CYV to buy a larger home.

Good luck with your decision!
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Old 03-25-2014, 03:18 PM
hfeatherston hfeatherston is offline
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Is the bond tax deductible?
  #16  
Old 03-25-2014, 03:47 PM
Bogie Shooter Bogie Shooter is offline
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Originally Posted by hfeatherston View Post
Is the bond tax deductible?
No.

http://www.talkofthevillages.com/for...ond-not-71854/
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  #17  
Old 03-25-2014, 03:50 PM
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dewilson58 dewilson58 is offline
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Everything is deductible, unless you are audited.
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Old 03-25-2014, 03:51 PM
Bogie Shooter Bogie Shooter is offline
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Originally Posted by dewilson58 View Post
Everything is deductible, unless you are audited.
Good advice if you want have a heavy fine or go to jail.
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Old 03-25-2014, 03:53 PM
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:MOJE_ whot:

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Originally Posted by Bogie Shooter View Post
Good advice if you want have a heavy fine or go to jail.
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