[MandoMan]

Originally Posted by Tvflguy

Held my breath opening the envelope. Exhaled as I saw tax bill was $18.00 more than last years. Phew.

We payed our bond off a couple years ago so only had the “maintenance”’ $498.

Fire Assessment $125.

Considering current inflation going on, I’m OK…

Ugh! First tax bill for me since buying a different house, mortgage free and bond paid off, and paying the tax directly instead of by escrow. Including the “maintenance” fee and fire, $3,400. Ouch! But it beats having a mortgage. So, that’s almost $300 a month, plus about $270 for amenities fee, water, and sewer, plus around $100 for electricity. That’s $670 a month. Home insurance on my courtyard villa brings that up to close to $900. I’m not complaining. It’s just interesting to me to see the numbers. I think most people here pay more.

[Taltarzac725]

Check in mail.

The Village is such a wonderful place to live for the most part. No place is perfect. It could have, at least, three working movie theaters and fewer speeding golf carts and cars.

[rickaslin]

Your post is the only whiney post I see. They are just stating facts about their tax bill.

[dolphin]

Curious why you decided to pay off your bond

[Marine1974]

Originally Posted by Gpsma

Oh gee….more whiney money posts from “poor” Villagers worried about a little increase.

Ironic post . Always someone going through something and they take it out on good people..

[Bogie Shooter]

Originally Posted by rickaslin

Your post is the only whiney post I see. They are just stating facts about their tax bill.

Your post?

[Bill14564]

Originally Posted by dolphin

Curious why you decided to pay off your bond

My thought: I determined I would be in the house long enough to pay more in annual payments than the lump sum payoff amount. No reason to send the District more than necessary so I paid the lump sum.

[Singerlady]

Originally Posted by Gpsma

Oh gee….more whiney money posts from “poor” Villagers worried about a little increase.

Gee, I thought they were informative.

[Cliff Fr]

If you have the homestead exemption the increase is limited to a few percent on the property tax portion. It is a bill passed years ago called "save our homes"

[Stu from NYC]

Originally Posted by Bill14564

My thought: I determined I would be in the house long enough to pay more in annual payments than the lump sum payoff amount. No reason to send the District more than necessary so I paid the lump sum.

Now that we are thinking that we will not move to a larger house will probably pay it off in next year or so,

Several real estate agents have said your house will not fetch more if no bond.

[Johnsocat]

Does anyone know what the "maintenance " fee is for?

[Kenswing]

Originally Posted by Stu from NYC

Now that we are thinking that we will not move to a larger house will probably pay it off in next year or so,

Several real estate agents have said your house will not fetch more if no bond.

Just curious why you would pay it off now? Not sure what the interest rate on your bond is but ours is, if I remember correctly 3.12%. No way I’m taking money that’s making 5.5% to pay that off.

[ThirdOfFive]

Originally Posted by Johnsocat

Does anyone know what the "maintenance " fee is for?

Maintenance.

[Kenswing]

Originally Posted by ThirdOfFive

Maintenance.

lol. I was gonna but decided not to.

[Bill14564]

Originally Posted by Kenswing

Just curious why you would pay it off now? Not sure what the interest rate on your bond is but ours is, if I remember correctly 3.12%. No way I’m taking money that’s making 5.5% to pay that off.

When I paid mine off the interest rate I was paying was over 5% and the interest I was making was less than 1% (or negative).

Even today, the decision is not as simple as you make it out to be.
- Bond has been refinanced to an interest rate of about 3.5%
- The admin fee brings the effective interest rate to 4% this year
- Since the admin fee is fixed, the effective interest rate grows each year. (in the last few years of mine it would be 5.5%, 6.3%, and 9%)
- Do you really own those 5.5% CDs or is that just the highest rate you found in a search? The highest rate earlier this year was 4% which at best matches the effective rate of the bond.
- The market is up only about 3% YTD which is less than the interest rate on the bond

At the time I paid off my bond I was losing money on the interest I was paying. Today I might break even. I don't know what the market will do next year but I know the effective interest rate will be higher. Towards the end of my bond payment I would almost certainly be losing again.

Peace of mind has a value. I like knowing my annual bill will be $1,500 less.

Piece of mind also has a value. I was willing to accept a small potential loss to avoid paying the District $100/year admin fee to do nothing more than collect my payments.