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Hi KeepingIt,

Yes, them's the rules. There's only one time a year that you can pay the bond in full without penalty and that is in July. They send you a notice. Did you use a TV agent? If so, I'm very surprised you were not told.

BTW, welcome to TOTV.

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I had almost the same time line as you.

Check your settlement statement and you'll see the bond payment as well as the assessments were prorated to your closing date (just like property taxes).

The cut-off for all bond payments is July. You could have waited until July to pay the bond at the same amount.

The VCDD staff was very helpful to me explaining the process. You might want to talk to them with an open mind before involving the government and lawyers in what is almost assuredly a losing proposition.

:wave:

Is any part of the bond payment tax deductable ?

Thanks

The bond was most likely issued in 2009 or 2010. Go here and you can find your bond amortized by district & section (sec # is on your green ID card) Village Community Development Districts The bond can only be paid once a year. If you had waited until July you would have paid the same amount.

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Sorry,no :yuck:

Did your agent disclose to you the on going IRS tax free bond issue and its potential negative effects on your investment? Did your agent tell you that you were not paying off the tax free bond? (That’s tax free to the bond holder.) Did your agent tell you part of your amenity fees are used to pay legal fees to deal with the IRS?

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Ongoing is right. Heading into the fifth year now and still no terrible bad thing .

And the amenity fees paying legal fees....where in the world did that come from?

Sometimes I wonder just what is the motivating force for this kind of negativity and scare tactics?

So your new home was a spec built home? Since you closed on it well after it was built? Or perhaps your home was started in August and you closed in November.
PTurner is right.
Everyone has the same rules about payment of the bond.

It takes a really small person to want a new TV resident--and owner of what could well be one's lifetime dream home--to feel like they've "been had"...

....when for most people here, buying a home here has been one of the best decisions we've ever made.

I am sorry the lawyers fighting the IRS get their money from where?

Here's a link to the June POA newsletter. Page 4 makes it clear the legal fees in the ongoing IRS battle, which by now exceed $500,000, are being paid for by amenity fees.

http://www.poa4us.org/bulletins_file...etin201206.pdf