| biker1 |
11-07-2016 12:48 PM |
The bond has a dollar value that is typically amortized over 30 years. Typical values for the bonds for new Designer Homes is about $24K. It varies with location and when the home is built. The bond value for you home can be found on the districtgov.org website. During that 30 years, you will be paying principle and interest and an administrative charge. The bond represents your portion of the infrastructure that has been installed. In other parts of the country, the infrastructure costs are part of the house price. Here they are a separate cost.
Whether your bond is paid off or not, there is also a "maintenance" charge of typically around $500/year and it varies by CDD. This money is used for maintenance of the common areas.
On you tax bill, you will see your property taxes, the bond payment (if you haven't paid if off), and the CDD maintenance fee.
I recommend you take the CDD introduction class that is offered regularly by The Villages.
Quote:
Originally Posted by OhioBuckeye
(Post 1316605)
biker1, wait you lost me. What principle & what interest are you talking about. My home is paid for. I thought Bond was for Village up keep. Not saying you're wrong, but to me that's just another way for the Villages to get extra money from you from each person for 30 yrs. Anyway you look at it it's extra money out of our pockets & into there's. Sorry if I don't quite understand it but it just doesn't seem right that we keep paying The Villages a pay check every year. But thanks for explaining it!
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