The developer of The Villages paid for the construction of the community, infrastructure and amenities by created and issuing tax free bonds. The bonds are paid by the home buyers and each bond payment is spread out like a mortgage and amortized over 15- 20 years or so and paid each year with real estate taxes as a special assessment. It's a one time charge so once the bond is paid off the obligation is satisfied. When homes are resold in The Villages the bond obligation is transferred to the new owner. It's therefore less expensive to purchase a preowned home with no bond obligation.