The maintenance assessment is fully disclosed in your Purchase Agreement Contract. It was the very last last page of my contract. It is in Section 10 of the "Payment, Utility and Settlement Information" section of the contract. There it outlines the Estimated CDD Maintenance Assessment and gives you the period this assessment covers (October 1 to September 30) ANNUALLY as well as your CDD Debt Assessment (Bond payment) for the current year and the following year and then your total CDD fees (Assessment plus Bond)for the current year and the following year. Yes, the bond is amortized over 30 years and the interest rate is also disclosed in your contract and this can be paid off just like a mortgage. The Maintenance Assessment is annually and forever.

One small difference between the bond loan and a mortgage loan. You can make accelerated payments on a mortgage that are not accepted on the bond. The two options for the bond are to pay the annual amount or to pay it off entirely.

Hi
May we ask what community you are in? We're looking to relocate and think the Villages may have to many fees.

Thank You

Richard Donna

The budget process actually begins in April/May, depending on the district or board in question (in my area, the AAC had its budget workshop in April, and the CDD had its workshop in May). The most important meeting in that process is in fact the workshop, where the staff presents scenarios to the board and the board discusses them and possible changes. By law, a preliminary budget must be approved by June 15 and the final budget must be approved by September 15. For CDD 4, there were three members of the public who attended the workshop: two of us who regularly attend all the meetings we can make, and someone who moving into the district.
I agree with others that the fact that the fiscal year begins on October 1 is not a conspiracy against us. There are opportunities in late spring to have an impact on the process, and the agendas and minutes of the subsequent meetings are available online.
One other note that you may or may not consider relevant to this conversation: The assessment rate/fee, set by the Board of Supervisors after input from the public (if any), is much smaller than the amenity fees, set by contract and increased based on the consumer price index. For me, on a yearly basis the amenity fee will be over four times greater than the assessment fee, even after a 20% hike in the assessment fee.

You “think” what is too many, have you investigated, had a visit or just read non villager post on TOTV?

Even the most cursory inquiry into the CDD costs reveals the Annual Maintenance Assessment.

True, but the CDD’s are not part of the state counties. The CDD’s are local Villages governing bodies. Anyone with even half a brain would have know when each CDD was formed that approximately half of the homeowners in the CDD’s would be seasonal residents, yet they set the fiscal year such that the the important budget meetings take place during the summer! Go figure?

Someone who does not live in The Villages has over 800 comments on "Talk of The Villages". Makes me wonder - Why the interest?

He may be speaking of Pennbrooke, which is on Hwy. 44 toward Leesburg. There are several developments in Lake and Marion Counties, as well. Some names that come to mind, although I have no details about their structure: Arlington Ridge, Legacy of Leesburg, Plantation, Scottish Highlands. In Marion County, Del Webb Spruce Creek, Stonecrest. Harbor Hills is a beautiful community on Lake Griffin but I believe it is an all-age community..

ignore him. He's a bitter troll.

I have to admit, I don't think I was paying attention if the maintenance assessment was explained, however, I think we can easily understand that it costs money to build infrastructure (which is what the bond is financing), and amazingly, the stuff doesn't last forever without needing some repairs or improvements from time to time. Maintenance is not paid for by the bond. We are assessed for those expenses as they arise.

I may not be the sharpest crayon in the box, but even I can understand that.

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Your post implies that these minimum wages are the same as what union tradesmen make. Is that really your position?

Did you fail to calculate the effects of inflation?

Yes, it is true you should have done better research before purchasing. The fees are indeed endless. However, good news, it is easy to sell at this time in The Villages and there are plenty of nearby options that are still 55+ and far fewer fees. And, you can still visit The Villages. Real options to consider....

Florida Real Estate Agents work as “Transaction Brokers” brokering only the transaction. They represent neither Buyer nor Seller and don’t have a fiduciary responsibility to either. Hence, they don’t have to disclose anything. Caveat Emptor.

What facts would those be? They raised the assessment 15%. The only thing that changed was the cost of delivering the same services as last year. The government and my social security check says the money is only worth 8% less than last year, not 15%.

What facts am I missing?

Not true. If you are a Florida licensed real estate agent, you have a fiduciary relationship with both the buyer and the seller. That is the law. Having a fiduciary relationship is not the same as representing a client in a transaction.

So you don't understand what the maintenance assessment goes towards. While there are some "same services as last year" the maintenance projects are an as-needed type of thing. It is likely that either the projects last year cost more than anticipated or there are some large projects expected in the near future. Both of those cases would necessitate collecting additional maintenance funds above what are needed to provide the "same services as last year."

Continue to leave the check book open while living in TV.

Yep. Like life in general.
I'm going to go way out on a limb here and predict that in 3 years food, medical insurance, and cars will cost more than today.
While I'm playing Nostradamus, I'm also going to predict that nobody working for the companies that maintain the infrastructure in and around TV are going to be making less in their wages than they are today.

Yep…How do you think the lawns are mowed and landscaping in TV is pristine? It’s not magic.

Up north we called them “real estate taxes”.

Well said.

Name three places where that is not true. Cemetaries don't count.

See post #58. Couldn't have said it better...............