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Old 09-05-2010, 08:55 AM
 
186 posts, read 438,859 times
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We are looking at communities for retirement and I have read about CDD's
Can anyone give me the good the bad and the ugly about these,
We dont want to write off a community for just this one area

Thanks
Nancy
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Old 09-05-2010, 02:31 PM
 
51 posts, read 186,583 times
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Nancy707 - I live in Stone Creek and they do not have a CDD; my parents live in OTOW and they do. It is an extra fee that appears on their yearly tax bill. I put in "pros and cons of CDD" in City-Data forums search window above and several good discussions on this subject came up that should help you.
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Old 09-05-2010, 03:30 PM
 
Location: Sloooowcala Florida
1,393 posts, read 2,763,146 times
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What is a CDD?
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Old 09-05-2010, 05:23 PM
 
51 posts, read 186,583 times
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With regard to what a CDD is...I am quoting someone from another post here on City-Data forum that I believe is correct...

"The Community Development Districts were created to help developers put in roads, utilities, clubhouse etc. Just about everything but the actual homes. It is a tax free municipal bond that is paid back by the home owners as an additional tax. They are a good thing, for the developer."
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Old 09-05-2010, 05:27 PM
 
Location: Sierra Vista, AZ
16,483 posts, read 21,635,282 times
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Quote:
Originally Posted by Ocalagala View Post
With regard to what a CDD is...I am quoting someone from another post here on City-Data forum that I believe is correct...

"The Community Development Districts were created to help developers put in roads, utilities, clubhouse etc. Just about everything but the actual homes. It is a tax free municipal bond that is paid back by the home owners as an additional tax. They are a good thing, for the developer."

Sounds very much like the mess they had in Colorado with Neil Bush and Silverado Savings and Loan. A lot of people lost their homes.
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Old 09-05-2010, 06:08 PM
 
51 posts, read 186,583 times
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Wasn't there also something in the news recently about a court settlement that The Villages had agreed to with regard to improprieties with their CDD?

Is it true that one distinction is that CDD Boards consists of only the developers associates while HOA's have homeowner's representation?

I guess you would have to determine if you like the community more than you dislike having to pay the CDD.
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Old 09-06-2010, 09:07 AM
 
495 posts, read 2,134,957 times
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I dont think that Marion County has any Community Development Districts.

That would be making the big developers pay for their impact of large new developments on schools, roads, etc. And Marion County is run by big developers.

Instead, they place the entire burden of paying for an expanding infrastructure required by these new developments on the little guy, the individual home owner.

Last I checked impact fees for a new mobile home were $9500 !

Then there are additional taxes added to the property taxes for fire protection and garbage. They call them non advalorim taxes. But in reality, they are property taxes because if you dont pay, the county will take your property.

If a big developer wants to build a 500 home subdivision then he should shoulder most of the cost of the new impact on county services.

Not the little guy who just wants to put a mobile home on his own land.
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Old 09-12-2010, 08:05 AM
 
12 posts, read 38,645 times
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Default Stone Crest

Hello Ocalagala,Me & my wife visiting in august the " Stone Crest" community,liked very much.Compare to "Villages" is like $200/month less than "Stone Crest".
How is the life ovether?.We thinking relocate next year,rent some house for few month and looking for preeown home to buy.
Please tell us if this is good idea?,thanks
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Old 09-12-2010, 04:30 PM
 
51 posts, read 186,583 times
Reputation: 51
Koczki:

I live in Stone Creek, not Stone Crest; so I don't have any information on Stone Crest; but if you don't mind the inconvenience/expense of renting for a while; I think it is a great idea to rent first... then you can see for yourself what the community is like - while reading what others have posted on a community is helpful - nothing is better than actually living in the community for a while and seeing if it meets your expectations. Good luck!
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Old 10-11-2010, 02:17 PM
 
15 posts, read 32,894 times
Reputation: 22
Does anyone know if Stonecrest has a CDD? Remember to research the builder before you buy. A development can by very nice and offer a lot, but it doesn't do much good if your house is going to fall apart in 10 years. There is a wealth of info on google regarding developers.
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