Home Buying in 33647>Question Details

Ed, Home Buyer in Freehold, NJ

Relocating to the area in april ccd fee are base on bonds how do you find out how many years are left on that

Asked by Ed, Freehold, NJ Mon Mar 30, 2009

bond. The ccd fee should go down after the bond is paid off?

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Answers

4
Some of the original CDD bonds are 15 years, some as many as 30 years. Even within the same community, i.e. Westchase you will have 2 separate CDDs so be sure to get the details.
Hi Ed,

To find out the exact terms of the bonding portion (note there are two components of the CDD fee, bond repayment and maintenance fees) of the CDD you can go to:

http://hillstax.org/taxapp/property_information.asp

click on the link for the Non-Advalorem taxes. It will give you the contact person for the CDD. Call them up and ask them when the bonding portion will be paid and any other details. They may require that you send a faxed request. They can also give you the amount if you wanted to completely payoff the bonding portion.

I'm not certain if the CDD can easily issue new bonds or if they can if it is likely. Some of the older communities are nearing the end of the bond repayment period and may be a good value. You have to weigh in all the factors and in some cases a CDD community may be the best decision. I woudn't completely rule them out. One expensive monthly cost in Hillsborough is the water bill for the lawn. Communities like Westchase with reclaimed water not only are more asthetically appealing but also result in significantly lower costs for the water bill.

Hope this helps.

Alma
Alma Rose Kee, P.A.
Charles Rutenber Realty, Inc.
813.244.9898
http://www.SoldOnTampa.com
Web Reference: http://www.soldontampa.com
0 votes Thank Flag Link Tue Apr 7, 2009
Hi,

Most CDD are 20-30 years. Keep in mind that most communities after the CDD is paid all of a sudden the HOA fee increase. Remember you get what you pay for. If you have a nice community with great ammenties,etc the fee's will always be higher. You just need to know if a community is for you. Let me know if I can help you answer any more questions.

Take care

Christina Barone-(Realtor)
Signature Realty Associates/Team Barone
Christina's cell-813-294-4464
Fax-813-866-9790
http://www.TeamBarone.com
http://www.IsellNewTampa.com
http://www.IsellWesleyChapel.com
Thank you to all for making us Signature Realty Associates #1 Team for New Tampa, Wesley Chapel, Lutz, Land O Lakes out of 200 agents!!!
Web Reference: http://www.Teambarone.com
0 votes Thank Flag Link Mon Mar 30, 2009
Ed,

Technically it is supposed to be paid off in 10-20 years depending on the amount. Unfortunately, You should budget to have them around for posterity. The homeowners association will always find a reason to reissue the bonds for projects. My suggestion is look into PUD's that do not have CDD's. We can help you with that.

Bill Szydlowski
The Szydlowski Team
Future Home Realty
813-323-4443
Web Reference: http://www.tampamyhome.com
0 votes Thank Flag Link Mon Mar 30, 2009
It is my understanding that the bonds were twenty year bonds most of the time and were used by builders to pay for the infrastructure of the community and surrounding areas. I also believe that they can be continued to as infrastructure may deteriorate over time and need improvement i.e like a special assessment. I could confirm this with some of my friends at the County level.
0 votes Thank Flag Link Mon Mar 30, 2009
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