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.