CDD Maintenance Non-Ad Valorem Assessments
 

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 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.

From the Sumter county tax collector web site.

The Villages Special Assessments
(352) 751-3900 Residential Bond Assessment Information
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”).

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?

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

Speculative at best. Someone will always be inconvenienced.

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?

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!!!

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.

Thank You
 

Outstanding assistance - Appreciated, Bogie Shooter

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

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 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.

Do your own research
 

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

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.

gets better?
 

What else??:22yikes:

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

Interesting! Where do you live?

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.

Funny how they forgot to mention it.

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.

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

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.

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?

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

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.

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

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.

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.

Fees
 

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.

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!

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.

Easy to criticize from afar, without any facts.

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

No HOA in The Villages.

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

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.

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?

Cdd
 

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.