[Bill-n-Brillo]

Originally Posted by kentucky blue

Except, unlike a mortgage, the interest payments on your bond are not tax deductible. I have thought about putting my bond on my home equity loan, so i can deduct the interest payments.I've also considered just paying the bond completely off,but i don't think i'll get my $25,000 back if i sell,........ decisions,decisions ,decisions, what's a young man to do?!?

And there's the dilemma! It's really up to the individual to decide what they feel is best for their own situation.

Originally Posted by momesu

.....OR am I misunderstanding how bonds work.
Suzanne

You've got it - that's correct.

Bill

[Russ_Boston]

Originally Posted by kentucky blue

Except, unlike a mortgage, the interest payments on your bond are not tax deductible. I have thought about putting my bond on my home equity loan, so i can deduct the interest payments.I've also considered just paying the bond completely off,but i don't think i'll get my $25,000 back if i sell,........ decisions,decisions ,decisions, what's a young man to do?!?

Thanks, I forgot about that. Equity line makes sense I think since there are usually no closing costs and rates are very low right now.

[kentucky blue]

Originally Posted by Russ_Boston

Thanks, I forgot about that. Equity line makes sense I think since there are usually no closing costs and rates are very low right now.

You have until July 22,2011 to pay off your bond , or wait until next year.Looks like i'm going to wait until next year before i make my final decision .Equity line looks attractive at 3%, but i'm still going to wait.Did not really consider the bond assessment when i bought last year. Location, curb appeal,square footage, floor plan, and finally.................... the one Sharon TOLD me to buy

[Lou and Carolyn C.]

Originally Posted by kentucky blue

You have until July 22,2011 to pay off your bond , or wait until next year.Looks like i'm going to wait until next year before i make my final decision .Equity line looks attractive at 3%, but i'm still going to wait.Did not really consider the bond assessment when i bought last year. Location, curb appeal,square footage, floor plan, and finally.................... the one Sharon TOLD me to buy

Call the Direct Line (352 751-3900) and they will explain to you that you CAN pay off the bond at any given time, however to get proper credit this year you need to pay by July 22, 2011, otherwise an assessment will be due on your Tax Bill come November.

Why is the payoff deadline late in July?
The payoff figure is good only through late July because the annual assessment roll must be certified to the Tax Collector to remove the assessment from your tax bill. It would be TOO LATE to guarantee removal of the assessment from the tax bill you receive in early November if payment was made after the payoff deadline.
REMEMBER: Even if you pay off your bond assessment, there will continue to be an annual MAINTENANCE assessment that pays for the ongoing costs of maintaining the infrastructure.

[Jim Straz]

Please don't forget the purpose of the Bond while you figure your individual situation. You're not just buying a home, you're buying a life style and that style comes at a price. I like the fact there is a Bond because that ensures what I take advantage of there now will be there in the future. It's not free after all!

[Russ_Boston]

Originally Posted by Jim Straz

Please don't forget the purpose of the Bond while you figure your individual situation. You're not just buying a home, you're buying a life style and that style comes at a price. I like the fact there is a Bond because that ensures what I take advantage of there now will be there in the future. It's not free after all!

Think you might have the Bond confused with the monthly amenity fee. The bond is for road infrastructure during development of your neighborhood not for our rec centers, pools etc, which are covered in the monthly amenity fee.

At least that is my understanding.

Plus there is a yearly maintenance fee.

There's a good description somewhere about each one.

[Jim Straz]

Originally Posted by Russ_Boston

Think you might have the Bond confused with the monthly amenity fee. The bond is for road infrastructure during development of your neighborhood not for our rec centers, pools etc, which are covered in the monthly amenity fee.

At least that is my understanding.

Plus there is a yearly maintenance fee.

There's a good description somewhere about each one.

I would not normally respond to something worded as you did, instead I'm just going to add a link instead http://www.districtgov.org/faq.aspx

[jgbama]

Originally Posted by Jim Straz

http://www.districtgov.org/faq.aspx

Quite helpful! Thanks. After some digging, we found the CDD maintenance fee for the home we are looking at. At www.zillow.com, we got and idea of the property taxes paid last year. That all helps in getting an idea of what to set aside each month for each.

[The Villager II]

consider the interest you are paying on the bond money. For most, it is higher than you are getting for money in the bank.

[Jim Straz]

An interest rate of approximately 5.5% over the next 29 years for me is more than tolerable. I'm 66, so 29 years from now if I'm still making Bond payments I won't mind one little bit. Three years from now 5.5% will seem like a joke.

[Jim Straz]

A correction to my post. The current interest rate on my Bond at Tamarind Grove is actually 6.75% over 29 years.

[Bogie Shooter]

Originally Posted by jgbama

Quite helpful! Thanks. After some digging, we found the CDD maintenance fee for the home we are looking at. At www.zillow.com, we got and idea of the property taxes paid last year. That all helps in getting an idea of what to set aside each month for each.

Do a record search at this site, you will get the actual taxes paid on any Sumter county property. http://www.sumterpa.com

[gego3650]

thats on top of the monthly which I believe is now $ 130 the last time I looked. It goes up every year after the first few years based on cpi