[owelles]

Can someone provide a concise explanation of exactly what the difference is between the assessments called SIDs and LIDs? I may be moving to Las Vegas before the end of the year and am considering Mountain's Edge, which I know assesses both.

I found this definition online but would appreciate hearing from someone who actually has paid these to confirm if this is accurate and get some opinions on whether they're worth the cost to the homebuyer:

A SID or LID is placed on a property when the city/county installs streets, fire hydrants, sewer plumbing and street lighting in an undeveloped portion of land that a developer is building on. The costs associated with installing these features is placed upon the home builder/developer. The developer can choose to pay the loan/bond back or they can relay the cost on to the home buyer by one of two ways: if the builder chooses to pay back the funds immediately, they tack the cost onto the price tags of all the homes in the development. If the builder chooses not to add the costs of Special or Local Improvements, the costs get placed onto the buyer by way of SID or LID that is generally a few thousand dollars per home, paid twice a year, amortized over 10-20 years.

Thanks.

[olecapt]

Originally Posted by owelles

Can someone provide a concise explanation of exactly what the difference is between the assessments called SIDs and LIDs? I may be moving to Las Vegas before the end of the year and am considering Mountain's Edge, which I know assesses both.

I found this definition online but would appreciate hearing from someone who actually has paid these to confirm if this is accurate and get some opinions on whether they're worth the cost to the homebuyer:

A SID or LID is placed on a property when the city/county installs streets, fire hydrants, sewer plumbing and street lighting in an undeveloped portion of land that a developer is building on. The costs associated with installing these features is placed upon the home builder/developer. The developer can choose to pay the loan/bond back or they can relay the cost on to the home buyer by one of two ways: if the builder chooses to pay back the funds immediately, they tack the cost onto the price tags of all the homes in the development. If the builder chooses not to add the costs of Special or Local Improvements, the costs get placed onto the buyer by way of SID or LID that is generally a few thousand dollars per home, paid twice a year, amortized over 10-20 years.

Thanks.

That is a reasonable summary. Basically a municipality sells bonds to raise the money for infrastructure improvements than taxes the property owners over 20 years to recover the funding. They are in fact a type of property tax and are tax deductible.

Generally never pay off a SID/LID. People expect them in the property price. If you pay them off you can't get any more money for the property.

[lvkewlkid]

sids are in las vegas, north las vegas, and uninc. clark county, lids are what are used in henderson

[owelles]

Originally Posted by lvkewlkid

sids are in las vegas, north las vegas, and uninc. clark county, lids are what are used in henderson

OK, then how does Mountain's Edge, which is in Las Vegas, not Henderson, have fees for both SIDs and LIDs, plus association fees? I would appreciate finding out. Thank you.

[olecapt]

Originally Posted by owelles

OK, then how does Mountain's Edge, which is in Las Vegas, not Henderson, have fees for both SIDs and LIDs, plus association fees? I would appreciate finding out. Thank you.

Mountains Edge is in unincorporated Clark County. I often has a SID/LID but only one. Often has a master plan and association fee but sometimes has only one.

There is significant variability in the fees charged by various developers in Mountain's Edge and some of the listings may well be wrong. It is not unusual to get wrong information on bank owned.

[aquadm]

Mountain's Edge should only have a SID, a Master Plan fee (usually $20 per month), and the subdivision community HOA....No LID....I work for a new home builder

[owelles]

Originally Posted by aquadm

Mountain's Edge should only have a SID, a Master Plan fee (usually $20 per month), and the subdivision community HOA....No LID....I work for a new home builder

Thank you. Another thread on this forum had indicated otherwise. I appreciate the information.

[olecapt]

Originally Posted by aquadm

Mountain's Edge should only have a SID, a Master Plan fee (usually $20 per month), and the subdivision community HOA....No LID....I work for a new home builder

Yes and no. Some have a SID...some don't. Some have a single association fee. (May include the master plan fee). Some have both a master plan and Association fee.

Your builder would appear to be in the majority but not all follow the pattern.

In places the total fees without the SID well exceed $100.

And then you run into the odd ball where some developer paid off the SID as part of the deal.. (That is a spif I always tell buyers to try for...it is real money)

[lvkewlkid]

you only usually pay a subdivision community hoa fee if it is gated...they are called sub-associations