[zcaveman]

Originally Posted by JimJoe

The special assessment is:
Non-Ad Valorem Assessments
Code Levying Authority Amount
0000000 UNIT 00000 SPECIAL ASMTS - MAINT $
which is assessed yearly by each district and can vary from district to district and from year to year.

On the Marion county tax bill it is listed as Villages Comm Development and it is an amount assessed by our CDD to pay for the annual maintenance costs in CDD4 (road repair, flowers, mowing, etc).

[JimJoe]

Originally Posted by zcaveman

On the Marion county tax bill it is listed as Villages Comm Development and it is an amount assessed by our CDD to pay for the annual maintenance costs in CDD4 (road repair, flowers, mowing, etc).

I thought that is what property taxes are for. Thanks for the help.

[Autoshow]

Originally Posted by UH1B913

Most of us received a letter in May stating that how much is outstanding of the Bond Payment on our property. It's a 30 yr payment at 6.93%. When we pay our annual assessment there is also an additional "administrative fee" of $45 for the county to pay The Developer. Our home for example had an original bond of about $7000. When you do the math on these payments - one is paying about 7.5% to TD. The letter addressed the statement "Can I deduct the bond assessment on my property tax bill from my income txes at year-end?" The answer was "contact you accountant or financial advisor.....". The Villages with all their knowledge of what's legal for them to do "according to Federal law" knows full well that these are not deductible. It was addressed in the IRS audit again this past year. Now if one has an equity loan available on their home, one can take out the amount to pay off the bond and LEGALLY deduct that from income taxes. I guess from the legal standpoint AND not paying TD 7.5% per year and not being able to negotiate it down - the decision is easy to make.

I wrote an article about the bond 5 years ago ,shortly after moving to the villages (almost exactly as yours) you are 100% correct on your posting.

[kentucky blue]

Originally Posted by JimJoe

Let's ask:
Why is the bond not part of the listed price? Why dont all property listings SHOW the bond pay off? It is a lien on the property. I think the realtors should be required to tell you right up front. I think they should be required to list it next to the price since it is passed on with the land.

On my visit in May, the TV agents never mentioned the bond unless i brought it up, the MLS agent always let me know up front on each home.........What's with that???? !!!!!!!Anybody that does not consider the bond issue in their offer is an ill- informed purchaser, who is in for a shock.Also, i realized very early on, that FSBO's in TV live on a different planet, and have no idea about pricing a home in the real world.

[Annabelle]

This whole bond issue is rather confusing to someone who has never dealt with this before.
We were told the bonds were used to build the "infrastructure" in TV. If this means such things as roads, community centers, street lights, etc, then why doesn't everyone pay the same amount for their bond since everyone uses and benefits from these things?

From what I have heard, unless you buy in Lady Lake you are going to be hit with a bond and the more expensive the home, the higher the bond. I still haven't been able to find out why homeowners in one county don't have a bond and yet the others do have one.

Now, I see that on top of paying this bond, the homeowner also has to pay interest on the bond at a rate of about 7% and this is not deductible? This whole bond issue is one reason why my husband and I are still unsure of whether to purchase a home in TV.

Annabelle

[The Shadow]

Then we have a second set of bonds that are paid for with half of the amenity fees. http://www.ocala.com/article/2009071...tax-free-bonds