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Old 09-08-2016, 01:34 PM
 
25,746 posts, read 38,899,657 times
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Be aware that energy saving homes can indeed save money but check with utility company as some builders cut down on AC units and therefore the other unit will run all day instead of turning a zone off which often was more cost saving

We have seen energy saving homes with very high bills for average AC settings.
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Old 09-09-2016, 02:06 PM
 
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Originally Posted by Swimmom32 View Post
Coming from NJ, we looked at every new construction in Land O lakes and most of Wesley Chapel...All single family homes...For the life of me I can not phathom paying 6000k a year in property taxes...I have a 3 bedroom 3 Strory townhome 2200 sq ft with outdoor pool and indoor pool and the taxes are 6000k yes no where near as nice and its not single family however I think it is insane what these communities charge for CDD on top of your HOA...We love the homes and cant wait to get to that area, and yes we will eventually buy in a community that has a CDD but I was just floored when the sales gals told us depending on the price of the home all in what it would be and it ranged between 5400 and 6400 a year in taxes...
In Wesley Chapel new construction house with the average price of $400K will get you at $6K-7K+ in taxes only AND CDD/HOA will be on top on top. Just go to county appraisal and look into recent (6-12 months sales in these new communities).
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Old 09-09-2016, 03:27 PM
 
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Originally Posted by EngGirl View Post
In Wesley Chapel new construction house with the average price of $400K will get you at $6K-7K+ in taxes only AND CDD/HOA will be on top on top. Just go to county appraisal and look into recent (6-12 months sales in these new communities).
I might be wrong on this so please correct me. But on all new construction homeowners are charged an impact fee of 13k? Or something close to that.
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Old 09-09-2016, 06:36 PM
 
Location: Not the end of the Earth, but I can see it from here
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Originally Posted by retiredcop111 View Post
I might be wrong on this so please correct me. But on all new construction homeowners are charged an impact fee of 13k? Or something close to that.
Homeowners are not charged the impact fee. The developer pays it and passes the cost along in the price of the home.

RM
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Old 09-09-2016, 07:30 PM
 
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Originally Posted by MortonR View Post
Homeowners are not charged the impact fee. The developer pays it and passes the cost along in the price of the home.

RM
Yes, MortonR is absolutely right! Developer pays impact fee.
But new construction homes seems to use new tax calculation formula so taxes are much higher.
For example, I just looked for a house sold in Estancia in Wesley Chapel for $450K (assessed value is $415K) - taxes with homestead are $6300 and with CDD added - $8900. Without homestead it's $9700. The house is around 3000 sq.ft.
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Old 09-10-2016, 08:23 AM
 
Location: -"`-._,-'"`-._, ☀ Sunny Florida ☀ ,-"`-._,-'"`-.
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Quote:
Originally Posted by MortonR View Post
Homeowners are not charged the impact fee. The developer pays it and passes the cost along in the price of the home.

RM
In the end, all fees and costs that developer pays are passed along in the price of the lot, the builder in therefore in the cost of the home. One way or another the developer is going to recoup those costs. Those who think CDD are bad are at bit misinformed. Those costs if not in CDD would also be included in the price of the lot.
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Old 09-12-2016, 08:31 AM
 
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Originally Posted by bobandsherry View Post
In the end, all fees and costs that developer pays are passed along in the price of the lot, the builder in therefore in the cost of the home. One way or another the developer is going to recoup those costs. Those who think CDD are bad are at bit misinformed. Those costs if not in CDD would also be included in the price of the lot.
With the only difference being CDD maint. part will remain with home forever and will require $$ all these years vs included in house price cost will be paid off with mortgage


Since there are very limited number of communities without CDD in Wesley Chapel/ New Tampa area that are under construction, it's had to compare, but if you take Arbor Woods and Estancia/ The Ridge/ Union Park/ Meadow Point the price per sq. ft. will be pretty much the same, but CDD communities will have higher payments because of CDD.
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Old 09-12-2016, 11:55 AM
 
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Originally Posted by EngGirl View Post
With the only difference being CDD maint. part will remain with home forever and will require $$ all these years vs included in house price cost will be paid off with mortgage


Since there are very limited number of communities without CDD in Wesley Chapel/ New Tampa area that are under construction, it's had to compare, but if you take Arbor Woods and Estancia/ The Ridge/ Union Park/ Meadow Point the price per sq. ft. will be pretty much the same, but CDD communities will have higher payments because of CDD.
Usually the CDD time frame is 30 years which is not "forever" unless you sell of course prior to that time frame. Most likely the HOA amount will change after CDD will be paid off, but I never heard what actually will happen after CDD is paid off.
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Old 09-12-2016, 01:24 PM
 
3,313 posts, read 4,277,990 times
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Originally Posted by bentlebee View Post
Usually the CDD time frame is 30 years which is not "forever" unless you sell of course prior to that time frame. Most likely the HOA amount will change after CDD will be paid off, but I never heard what actually will happen after CDD is paid off.
I am very surprised you as a realtor is not aware what CDD fees are.


CDD consist of 2 parts - original bond divided by number of payments for 20-40 years (some communities had 20 years bonds and some 40, with the majority on the middle - 30 years) - called Capital Bond Assesment which can be paid off. AND second part of CDD fee is a maintenance part aka Operation and Maintenance, which never goes away and stay with the home forever.
Operations & Maintenance Assessment is not related to the repayment of the bond and is ongoing to the life of the community. This is similar to what the HOA fees cover for smaller neighborhoods. Common amenities such as pools, parks, sports fields, tennis courts, landscaping, etc. This is not a fixed cost and can rise according to price fluctuations or additions of new amenities that need to be maintained.


CDD communities are financially and legally different from non-CDD communities, so all repairs to infrastructure are their responsibility, not HOA.


Since you live in CDD community, you can contact your CDD board and get a breakdown of your CDD payments to see it yourself. Sorry for the bed news, but CDD fees will never go away.


Page 5 of this pdf is what you need to look at
http://www.sevenoakscdd.com/wp-conte...udget-2016.pdf
Note that debt portion is one amount and operation and maint. is different.
As community goes older, the keep up and repairs are also increasing so as a fee.
Take a look at the increase compare to last year - 4% average

Last edited by EngGirl; 09-12-2016 at 01:32 PM..
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Old 09-14-2016, 06:22 AM
 
Location: Trinity, FL
18 posts, read 11,512 times
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The CDD is the government telling the new developer what they need to pay for the extra schools, fire, etc in a community. The rates vary by county. The HOA is for the developer. Usually with a lot of new of communities you will find they are keeping the HOA low until the CDD drops off, because they need buyers and if they are both high, they can't justify the price of the housing and the monthly payments. Mod edit:don't tell us about your listing,please...... I've seen communities when the CDD drops off, raise their HOA. Not sure what Ballantrae's plan is.

There are TONS of new home communities going up along 54 just above hillsborough near the express way. Which is driving down the prices in the established communities. It is a hot area up here, which is why I moved up from North Tampa.

Last edited by Sunscape; 09-14-2016 at 09:19 AM..
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