The Villages Bond CDD Taxes Fees

[@karentate9114]

Thanks for the info. This is a much clearer explanation of the monthly expenses. I know now I could never afford to live there. I'm between St.Aug & Daytona. Decent area, some city code restrictions (must cut your lawn, no RV, lg truck parking, housing paint guides) but no fees. RE tax up to $550 (yearly!) Almost 1/4 acre corner lot, 1532sf 3/2/2 house, in regular neighborhood, 15 minutes my door to free parking at the beach. Elec winter avg $45. Smr $80 month.(6 sun tunnels make a difference) couldn't afford to live anywhere else. I'm from Chicago area, I'd NEVER have been able to retire there. Single income since 1975, not much room for big expenses. I've heard lots about the Villages and it actually scares me a little. I sincerely thank you for your detail on the expenses. It settles truly the questions I had. Reality bites, but better to know and not even waste the gas to drive over there. Keep up the information format, it is helpful. Thank you. (Note to self, move to N GA where the kids are)

[@DavidMonty]

Karen, if you would like to reach out to me directly, [e-mail], please do so. If you are at all interested in moving here, we can discuss many options, and determine if your budget would work. The unknown in your case, what could you get for your current home?

[@karentate9114]

@@DavidMonty thank you for your response. Im sure I wouldn't be able to cover the purchase price of a home there. Doubt if I would get 180k. I cannot draw from savings to cover the difference. I must be in a mortgage free home. I appreciate your response and the info shared. Just not in the cards I'll be 79 in December, better think about getting closer to the kids, grands, etc. Trouble is, its expensive up in N. GA. Maybe get a trailer in the woods with 10 cats, 5 dogs and a goat! Thanks again.

[@bambihoyer5893]

Thank you, I wasn't aware of the cdd tax.

[@DavidMonty]

You are welcome

[@robertboicourt4892]

How much is the bond no bs

[@DavidMonty]

The problem is the bond varies. It depends on the interest rate when the bond was initially issued for development of the area, the size of the home, number of homes in the district. On a new home you can expect to have a bond between $25,000 for a Villa, $30,000 for a designer, and higher for a premier home. They are paid off over 20 years on your tax bill. So on a resale the balance depends on age of home, a 20 year home is paid off. A 10 year old home, about half of the original balance. However, in some cases people will pay off the bond early. Annual payments are between $700-$1800 ( can be higher for more expensive premier homes). Even though the annual payment is non ad valorem, not calculated by price of home, it is a flat rate sort of based on price of home). So, no BS but complicated.

[@DavidMonty]

I will do a detailed video about the bond, so look for it over the next few days. I will show you how to look up any bond balance and payment if you know the address of the home of interest.

[@robertboicourt4892]

@@DavidMonty thanks that helps😀

[@barbaraallen3054]

Believe me, TV is not worth all the extra dollars they milk you for. It's become overcrowded due to the greedy over development by the owners.

[@Ndiver81]

No thanks. The developers get the perks of low interest and tax write offs. If I’m paying taxes then that should be used to maintain roads grounds etc.

[@DavidMonty]

I get your point of view. I don't work for the developer, just relaying the information. No doubt about it, the bond is pretty much extra profit for the developer. But, even with the bond included on your tax bill, taxes are typically less expensive than most places up north. Typically.

[@Ndiver81]

@@DavidMonty I understand. I have no malice towards anyone. You are letting people know about these things, better now than to purchase a home, condo etc and then find out. Thanks for letting us know these things as some of the things you talked about a lot of people would have no clue.

[@barbaraallen3054]

Not true ...there are plenty of places "upnorth" where you can find lower taxes . There's an illusion that has been created, through clever marketing, that TV is some sort of Utopia for retirement. It is not that much cheaper than living in many other areas once you include all the extra fees TV imposes. The bond alone adds thousands of dollars. There are, however, older properties where it has been paid off. Not a place to retire unless you have endless resources. Check out how many foreclosures in TV.

[@Ndiver81]

@@barbaraallen3054 It still won’t be as expensive as New Jersey. Two exact homes in Florida and New Jersey: Florida would be in the $200k range while New Jersey would be in the $700 k range. Plus the taxes are much higher in New Jersey than Florida overall.

[@barbaraallen3054]

@@Ndiver81 Where in God's name did you draw the conclusion that an equivalent home in NJ is $700k? Not true and I was referring to retirement communities not just in NJ but also in Florida and other areas more north ie. NC, SC Ga., ect. Also, check the list of pre-foreclosures and foreclosures in TV. That tells you something, as well. Just sayin. 🙃

[@phukit5456]

This is like my phone,cable and internet bill with all the fees and government taxes. I was interested until I saw all the add on's. Massive ripoff with marketing deception.

[@DavidMonty]

Don't shot the messenger, I just report what I see. I don't work for the developer, and personally, I don't agree with the bond. The Villages is not the only community that uses the bond in Flordia, it is becoming a common practice. And, by no means is The Villages the cheapest place to live, but it is probably the best value when considering lifestyle.

[@phukit5456]

@@DavidMonty Thanks for the response. Would really be interested if I got an honest estimate of monthly fees on a 250,000 home. Any chance?

[@DavidMonty]

phukit please send me an email - [e-mail]. I have a cost of living calculator that requires Microsoft Excel. It’s factors in loan amounts, exact bond prices, etc. if you do not have excel just let me know and I will send you a small list of inputs that I need for this calculator and I will send you the output.