Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Planning for the unexpected (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/planning-unexpected-125036/)

Suzi 08-26-2014 07:20 PM
I had planned out pretty much everything with one (1) exception: I had not considered that I would want/need a security system. I attribute my ignorance on the subject due to the fact I have lived "in the woods" for 35 years and I thought that TV was crime-free. Yes, I was naive, but I was happy in my own simple world :) But when we arrived and a rash of break-ins happened, we purchased a system and have monthly fees that we had not planned on. So to the question of the OP, other than that issue of security, other expenses we had estimated have been appropriate.

dbussone 08-26-2014 07:25 PM
Quote:
Originally Posted by buzzy (Post 928765)
You can expect your cable/satellite TV service to double or triple after the first year (or before)
Not with BrightHouse. No contract and at 24 months your bill will not increase more than $20.

mtdjed 08-26-2014 08:21 PM
Most estimates include taxes and taxes. But there are a few things that you need to consider that are not big but nibble your Yearly income.
Golf Trail Fees $140/year
Lawn Care $600/Year {Still a good deal)
Village EMAIL Golf reservations system ??/Year

Also I find that supermarket Prices are higher here than they were in Boston. That is offset by restaurant prices being lower. Note Lobster was $34/Lb yesterday in Walmart. Was $5/Pound in Marblehead, Ma in early August

Bonanza 08-27-2014 01:13 AM
Quote:
Originally Posted by slipcovers (Post 928841)
I agree, I found this information out years ago with a simple google search. Also, a lifestyle visit lets you "try it out" first before deciding to purchase in TV. If you are the type of person that complains about every little thing, then TV is not for you. I personally love it there and find nothing to complain about. I am always looking for a man with a cowboy hat so I can shake his hand and thank him.
There is very little you can compare to when you spend, say, a week, during a "lifestyle visit" and what it's like living here. Oh, you walk around the squares, try various restaurants, meet many nice people and speak with them, check out different rec centers, drive through some villages, etc. You are also amazed at all the clubs that are listed in Thursday's paper. That kind of list goes on and on.

However, until you live here you can never have the feeling of what it's like to be a permanent resident. When you come here for that lifestyle visit, it's a vacation and that's the mindset, almost totally. Practically everything is fun, particularly if you are a golfer. Still and all, it isn't like living here.

Bonanza 08-27-2014 01:19 AM
Quote:
Originally Posted by Papa Cuma (Post 928774)
Please explain how this would affect a Village homeowner ?
Thus far, Mr. Morse's attorney has been paid with monies from our monthly assessments.

It stands to reason that when IRS finally levies their fine, plus interest, Mr. Morse will again turn the other cheek and we, the residents, will be responsible for paying.

If anyone has a different thought, I'd sure like to be made aware of where the funds will come from.

Bonanza 08-27-2014 01:38 AM
Quote:
Originally Posted by njbchbum (Post 928790)
Keep in mind that the payment of the VCCDD's attorney fees have been and still are paid out of our amenity fees and not out of our pockets as special assessments; and amenity fees have a cap on the potential for any annual increase. One can read the history of the IRS go 'round here: Village Community Development Districts
Yes, the attorney has been paid our of our amenity fee.
While there has not been any special assessment, make no mistake, it is directly out of our pocket.
We, the residents, are the ones who pay the assessments.

While there may be a cap on an annual increase, exactly what is your opinion
as to where the millions for the IRS fine is going to come from???

This nonsense has been going on since 2008.
The history of the "go 'round" is nothing more than one postponement after another,
each with nothing more than double talk that has gone nowhere.
With each passing day, the fine increases.

2BNTV 08-27-2014 04:35 AM
I tend not to worry over things that are not in my control, re the IRS issue.

My personal feeling is that we may all be dead, before this comes to a final resolution. IMHO

graciegirl 08-27-2014 05:41 AM
Quote:
Originally Posted by Bonanza (Post 929145)
Yes, the attorney has been paid our of our amenity fee.
While there has not been any special assessment, make no mistake, it is directly out of our pocket.
We, the residents, are the ones who pay the assessments.

While there may be a cap on an annual increase, exactly what is your opinion
as to where the millions for the IRS fine is going to come from???

This nonsense has been going on since 2008.
The history of the "go 'round" is nothing more than one postponement after another,
each with nothing more than double talk that has gone nowhere.
With each passing day, the fine increases.
The interest on Municipal bonds is not usually taxed. We are a CDD form of government, a huge complex that has no outside funding. Unusual but very successful way to do things as we all can see. Our lawyers, hired by the developers, may hold this in limbo for years to come.

It is NOT an issue of somebody doing something wrong, it is an issue of how the IRS interprets it.

http://en.wikipedia.org/wiki/Municipal_bond

Villageswimmer 08-27-2014 07:11 AM
Quote:
Originally Posted by graciegirl (Post 929161)
The interest on Municipal bonds is not usually taxed. We are a CDD form of government, a huge complex that has no outside funding. Unusual but very successful way to do things as we all can see. Our lawyers, hired by the developers, may hold this in limbo for years to come.

It is NOT an issue of somebody doing something wrong, it is an issue of how the IRS interprets it.

Municipal bond - Wikipedia, the free encyclopedia

I may be misunderstanding part (or all) of this, but shouldn't an IRS ruling gave been requested PRIOR to issuing the bonds in view of the fact that this is an unusual issuing entity?

dbussone 08-27-2014 07:31 AM
Quote:
Originally Posted by naneiben (Post 929187)
I may be misunderstanding part (or all) of this, but shouldn't an IRS ruling gave been requested PRIOR to issuing the bonds in view of the fact that this is an unusual issuing entity?
It is customary, in my experience, to seek an IRS opinion when an entity is proposing to issue tax free bonds.

The Buckeyes 08-27-2014 09:52 AM
Whatever you have budgeted...add 50% and you'll be fine!

Bizdoc 08-27-2014 12:21 PM
For the masochistic, here's a training module on Tax Free bonds, including who does what:

http://www.irs.gov/pub/irs-tege/teb_...-2module_a.pdf

slipcovers 08-27-2014 12:49 PM
Quote:
Originally Posted by Bonanza (Post 929143)
There is very little you can compare to when you spend, say, a week, during a "lifestyle visit" and what it's like living here. Oh, you walk around the squares, try various restaurants, meet many nice people and speak with them, check out different rec centers, drive through some villages, etc. You are also amazed at all the clubs that are listed in Thursday's paper. That kind of list goes on and on.

However, until you live here you can never have the feeling of what it's like to be a permanent resident. When you come here for that lifestyle visit, it's a vacation and that's the mindset, almost totally. Practically everything is fun, particularly if you are a golfer. Still and all, it isn't like living here.
I totally agree, the lifestyle visit is a vacation. However, either before the visit or after you return home, if you just google "The villages, Florida" , there it is in black and white, clear as can be, IRS Bond investigation. If that is an issue, why would you buy in TV, especially since you are a realtor.

As to the outcome or who is going to pay if there is tax and interest is pure speculation.

Bonanza 08-28-2014 04:19 AM
Quote:
Originally Posted by slipcovers (Post 929342)
I totally agree, the lifestyle visit is a vacation. However, either before the visit or after you return home, if you just google "The villages, Florida" , there it is in black and white, clear as can be, IRS Bond investigation. If that is an issue, why would you buy in TV, especially since you are a realtor.

As to the outcome or who is going to pay if there is tax and interest is pure speculation.
Do I detect a undertone in your posts? Let me ask you this . . . If you purchased your property after 2008, when you purchased, did you sign a disclosure regarding the IRS/bond issue? Were you told about it?

I guarantee the vast majority of buyers had no knowledge of this. Furthermore, regardless of the outcome, there won't be any tax. There will either be fines and interest or nothing.

Perhaps you want to post a thread regarding how many residents Googled your "black and white" version of "The Villages, Florida" to find an answer to your query?

And just as an FYI or point of information, the word Realtor is a registered trademark, and always capitalized.

slipcovers 08-28-2014 07:56 AM
Quote:
Originally Posted by Bonanza (Post 929580)
Do I detect a undertone in your posts? Let me ask you this . . . If you purchased your property after 2008, when you purchased, did you sign a disclosure regarding the IRS/bond issue? Were you told about it?

I guarantee the vast majority of buyers had no knowledge of this. Furthermore, regardless of the outcome, there won't be any tax. There will either be fines and interest or nothing.

Perhaps you want to post a thread regarding how many residents Googled your "black and white" version of "The Villages, Florida" to find an answer to your query?

And just as an FYI or point of information, the word Realtor is a registered trademark, and always capitalized.

Could you please post a link as to which Florida Real Estate Disclosure Law it falls under?


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