Financing in 33647>Question Details

Pa, Home Buyer in 33647

what % ..CDD fees are tax deductible?

Asked by Pa, 33647 Mon Feb 21, 2011

We are planning to buy a house that has $ 4,000 annual cdd. How much deductation can we get?

0 votes Share Flag Financing in 33647

Help the community by answering this question:


CDD fee's are not deductable but most will deduct. Speak to a good CPA get the facts and stay legal. LOL!
Web Reference:
1 vote Thank Flag Link Tue Mar 1, 2011
Hi Pa,

If you haven't yet decide on a property you're welcome to browse like a realtor on available properties on my website:

Hunter's Green in New Tampa does NOT encumber the homeowners with extra CDD taxes along with Cross Creek.

Hope this helps.

Alma Rsoe Kee
Future Home Realty
0 votes Thank Flag Link Tue Mar 1, 2011
Good Morning! I would strongly encourage you to speak with your CPA in reference to all tax deductions. Although CDD fees are listed on our annual tax bill, the legality of whether they qualify for a deduction is best left up to an accountant. Good luck with your home purchase!

Laurie Dykeman
0 votes Thank Flag Link Wed Feb 23, 2011
These taxes and assessments pay the construction, operation and maintenance costs of public facilities and services of the district and are set annually by the governing board of the district.
These assessments and taxes are in addition to county and other local governmental taxes and assessments and are included with your tax bill each year. The operating and maintenance (O&M) portion is assessed for maintenance for common improvements within your community that the CDD provides. The services vary depending on which community you live in. For example, it may cover landscaping, street lights, guard facilities, roving patrol, storm water management, etc., or it may only include a few of the services.

Hope this helps,
Debbi Tinker
Keller Williams Realty
(813) 263-0932
0 votes Thank Flag Link Tue Feb 22, 2011
You really should speak with a CPA, we are not licensed to be giving tax advice. Best of luck.
0 votes Thank Flag Link Tue Feb 22, 2011
PA, newer developments in Florida carry a "CDD" (aka) Community Development District. FYI, the CDD is a method to diffuse the cost of developing land into a community. It is a means for municipalities and developers to spread out costs of the infrastructure. It shifts the burden of building roads and utility lines away from cash-starved municipal and county governments to the end user. The massive costs of building the infrastructure are financed by the developer with a key CDD incentive: tax-free municipal bonds. These bonds pay for not only roads and utilities, but also amenities such as clubhouses, pools, tennis courts and golf courses as featured in a particular community. These costs are distributed over a span of 15 or 30 years for the community's amenities.

Your property taxes and CDD fees are separate items and run with the land. These are costs that will be part of your monthly expense. As long as you own your home your monthly expense will include these costs. Your decision to purchase a Florida home will bring you many days of personal enjoyment.

The purchase of a property is a financial decision. Any financial decision would be best served by asking your CPA regarding a strategic move such as you are considering. They would be most familiar with your financial portfolio and provide you with the most current tax law information. If your CPA is out of state, they most likely have a network of associaties a could refer you to a Florida CPA for additional advise.
0 votes Thank Flag Link Tue Feb 22, 2011
Be sure to ask this to your accountant. As a Realtor I cannot answer as it would be giving tax advice which I am not licensed to do. Are you considering a home in Cory Lake Isles? Good luck with your search. If I can help any further with the community or particular homes, please let me know.

I'm including a link to the Better Business Bureau where you can search for an accountant if you do not already have one,!

Best Regards,

Kim Morcom
Keller Williams Realty, New Tampa
0 votes Thank Flag Link Tue Feb 22, 2011
This is a CPA question. Most Realtors aren't licensed CPAs or enrolled agents so you may want to verify what anyone tells you here.
0 votes Thank Flag Link Tue Feb 22, 2011

Community Development District ~ That is the term for a planned community. It is the cost of building out the infrastructure...water, sewer, roads. It is in the tax bill. It will be there for a definate term and then go away. For your area, I suggest that you call the property appraiser office. RE property taxes are deductable and it is part of your real estate tax.

Debbie Albert, PA
Keller Williams of the Treasure Coast
Web Reference:
0 votes Thank Flag Link Tue Feb 22, 2011
CDD fees are billed on your Tax bill, however CDDs are not taxable. Many do and some accountants say it's in the
Web Reference:
0 votes Thank Flag Link Mon Feb 21, 2011
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