[Bill14564]

Originally Posted by mtdjed

Not quite the way math works. In my opinion, a 30 year loan at 7% interest and a $1000 yearly payment would have an original bond somewhere near $12000 to $13000. MY math may be faulty but remember that the Interest is included in that $1000 yearly payment.

Remember that there is also an admin fee in that $1,000 annual payment. My fee was $88 but I doubt that amount is consistent across all bonds.

A $1,000 payment that included an $88 admin fee would result from an initial bond amount of $11,300.

[mrf6969]

Bond on our first new home here was 8K. Second new home 15K. Are the new home bonds really 50-60K now?

[Goldwingnut]

Originally Posted by DAVES

People tend to think so much per year kind of thing. It is based on what the house was priced at new. A more expensive home will have a higher bond.

NO! NO! NO!
The price of the house has nothing to do with the bond amount. It is based on the cost per acre for the area of development times the number of acres in a subdivision divided by the number of homes in the subdivision. The cost of the home has no impact on the amount of the bond.

[melpetezrinski]

Originally Posted by Bill14564

Remember that there is also an admin fee in that $1,000 annual payment. My fee was $88 but I doubt that amount is consistent across all bonds.

A $1,000 payment that included an $88 admin fee would result from an initial bond amount of $11,300.

District 13 (Richmond) CDD Debt assessment for 2025 is $1972.97. This is for a total CDD debt (30 year bond) of $33,555.86. I don't know the admin fee so if we use say $100, this equates to a 3.9% interest rate.

[Rainger99]

Originally Posted by Goldwingnut

NO! NO! NO!
The price of the house has nothing to do with the bond amount. It is based on the cost per acre for the area of development times the number of acres in a subdivision divided by the number of homes in the subdivision. The cost of the home has no impact on the amount of the bond.

Thanks for the facts!!

[CoachKandSportsguy]

Originally Posted by Goldwingnut

NO! NO! NO!
The price of the house has nothing to do with the bond amount. It is based on the cost per acre for the area of development times the number of acres in a subdivision divided by the number of homes in the subdivision.

Thanks again Don, which is why, it's public information, posted for each CDD, and it's relatively equal per lot/house. So whomever claimed personal information, isn't correct but understand her response. Tax bills per lot/house, excluding bond payment, always different per house/lot.

I didn't look at our bill, as its already filed away after being paid with online banking, but I looked it up on the CDD house / lot schedule. .

So the only information gained from this whole discussion is where do you live, and if you have a bond payment or not., and if you choose to volunteer the information or not . . the bond payment is by CDD, and it's black and white, either you have a bond payment or you paid it off/purchased it paid off. .

TOTV hashed out to the final answer!

[Normal]

If you bought between 2020-2022 it may be cash foolish to pay off your bond. 30,000 will make more in a CD at the bank than the loss in interest for a bond. Of course now interest rates are much higher.

Fun fact though, your bond payment for many Villages south of 44 is paying for roads and your sewage treatment plant etc. You are also paying for another sewage treatment plant for the city of Wildwood to the tune of 120 million and that price is escalating.

Hmm, in hock for the sewage treatment plant for your village fo a decade plus, and then paying for someone else’s simultaneously. The bond for one and more taxes for the other. What a great idea. /s

[TheWarriors]

Originally Posted by Goldwingnut

NO! NO! NO!
The price of the house has nothing to do with the bond amount. It is based on the cost per acre for the area of development times the number of acres in a subdivision divided by the number of homes in the subdivision. The cost of the home has no impact on the amount of the bond.

But by dividing up the areas into sections, the less expensive homes have less expensive bonds. Courtyard Villas being a prime example of more homes squeezed into smaller areas to average their bond costs. Otherwise why not just charge per rooftop over a much larger area like an entire Village. So I do think the cost of a home plays a significant part in the bond you will pay as well as the space you will have to enjoy.

[pauld315]

Nothing. We bought a house with the bond already paid off.

[Maker]

I do not think bond interest is deductible if you itemize. Neither is the admin fee. But your investment interest is taxable. You would need a significant higher investment gain than the bond cost to make that beneficial.

[ThirdOfFive]

Originally Posted by Rainger99

You have 19,000 posts so you are very familiar with the Villages. The purpose of the post is to provide information to those people who aren't that familiar with the Villages. There are a number of posts where people are surprised by the bond. This post is for them.

I checked the bonds in Lake (I think it was the Enclave) and the bond is about $5200 a year. That is a bond of 72,000 and 5.47%. I also checked some homes in Eastport. The highest that I have seen is about $3600 - most are around $3,000.

!!!

[Normal]

Originally Posted by ThirdOfFive

!!!

There are almost 600 preowned homes for sale. Why pay so much for a bond? Just buy preowned homes with newer amenities with lesser bonds like Hawkins, Citrus Grove or St. Catherine. The newer homes aren’t nearly as nice as those that have been built within the past 5 years or so.

[Rainger99]

Originally Posted by TheWarriors

But by dividing up the areas into sections, the less expensive homes have less expensive bonds. Courtyard Villas being a prime example of more homes squeezed into smaller areas to average their bond costs. Otherwise why not just charge per rooftop over a much larger area like an entire Village. So I do think the cost of a home plays a significant part in the bond you will pay as well as the space you will have to enjoy.

There is no direct correlation between the home cost and the bond.

I am not exactly sure how they decide what homes are in a specific section but I believe they are grouped by type. I have never seen patio villas grouped with premier homes or with designer homes.

All groups within the same section have the same bond price.

I looked at some veranda homes in Eastport and one section had veranda homes with a view and it also had homes with a wall. The price difference for the homes was more than $100,000 but they all paid the same bond price.

I live in a patio villa and other people in my bond grouping live in courtyard villas that were about $100,000 more when we bought. But we pay the same bond price so the less expensive houses subsidize the more expensive houses.

[Bogie Shooter]

All share equally in cost of the infrastructure.

[Nana2Teddy]

Originally Posted by Normal

If you bought between 2020-2022 it may be cash foolish to pay off your bond. 30,000 will make more in a CD at the bank than the loss in interest for a bond. Of course now interest rates are much higher.

Fun fact though, your bond payment for many Villages south of 44 is paying for roads and your sewage treatment plant etc. You are also paying for another sewage treatment plant for the city of Wildwood to the tune of 120 million and that price is escalating.

Hmm, in hock for the sewage treatment plant for your village fo a decade plus, and then paying for someone else’s simultaneously. The bond for one and more taxes for the other. What a great idea. /s

We bought new in 2022 and our bond interest is around 3%. We’re definitely not going to pay it off. Interest began to rise significantly right after we bought, so we lucked out.