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Old 01-14-2014, 12:48 PM
 
Location: Port St. Lucie, Florida
4,507 posts, read 9,196,298 times
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checked on the tax records of the house I live in - Magnolia Lakes, and a house in Lake Charles in SLW

CDD

St Lucie West Benefit Asm Service District $186.00
St Lucie West Maint Asmt Service District n/a $109.00

I checked a random house in PGA

1999 Reserve Comm Dev Dist 1 n/a $150.00

I found references for some HOA's in PGA saying there were 2 CDD's but cant find any definite info about them

more information on the Tradition Bond and what it covers --- see here
What is a Community Development District?

also.. the HOA's in Tradition cover more than the HOA"s in the other communities.
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Old 01-14-2014, 07:27 PM
 
Location: New Jersey/Florida
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Here's the CDD fees on a random home in tradition each year. It adds up to over thousand bucks a year and portions of it can be raised at anytime. Scroll down to the last paragraph. I attached the whole thing for posters who are unfamiliar with these fees. Then add in additional fees for the HOA and than the property taxes. It all adds up.

Community development districts (CDDs)
What is a CDD?
A CDD is a governmental unit created to serve the long-term specific needs of its community. Created pursuant to chapter 190 of the Florida Statues, a CDD’s main powers are to plan, finance, construct, operate and maintain community-wide infrastructure and services specifically for the benefit of its residents. many new communities are developed in conjunction with establishment of a CDD. A CDD is initially established through a petition and hearing process, but the establishing entity depends upon the size and location of the proposed district. The Governor and Cabinet establish districts of more than 1,000 acres while districts of 1,000 acres or less are established by the city or county in which they are located.
CDD’s possess several powers as a legal entity, such as the right to enter into contracts; the right to own both real and personal property; adopt by-laws, rules and regulations and orders; to sue and be sued; to obtain funds by borrowing; to issue bonds and levy assessments.
The Property taxes include the following non-ad valorem annual tax assessments: (i) a fixed annual assessment levied by the Community Development District ("CDD") over a thirty (30) year period in connection with the issuance of Community Infrastructure Bonds ($852.33 in 2008); (ii) an annual operation and maintenance assessment associated with the CDD based on the District's annual budgets ($76.61.00 in 2008); and (iii) an annual assessment levied by the City of Port St. Lucie for the maintenance and improvement of the storm water utilities, ($123.00 in 2008); and (iv) an annual assessment levied by the City of Port St. Lucie for trash collection ($253.70 in 2008). The assessments in (ii), (iii) and (iv) above are subject to annual increases.
What is the purpose of a CDD?
The ongoing responsibilities of the CDD are to administer CDD bonds, operate and maintain the community facilities for the benefit of the property owners.
Because there is increased pressure for developers to provide basic infrastructure and services to new communities, many developers in Florida are beginning to use Master Planned Communities and CDDs as a way of developing cost-effective communities that are both attractive and pleasant to live in and offer a variety of amenities to their residents, such as recreation areas and public parks. Through a CDD, the community can offer its residents a broad range of community-related services and infrastructure to help ensure the highest quality of life possible. CDD responsibilities within a community may include roads, storm water management, utilities, potable and irrigation water supply, sewer and wastewater management, parks and street lights.
How do CDDs function?
CDDs and their associated taxes are planned and executed independently of local and federal government; however they are established with government approval. CDDs can be thought of as a special-purpose government unit--public board meetings are scheduled with notice given to all residents, and CDD records are subject to public scrutiny. Public hearings are held on CDD assessments, and the CDD’s budget is subject to annual independent audit.
CDD supervisors are subject to financial disclosure in the same way that other local officials are. Once created, CDDs can effectively govern themselves in many respects--they can become self-sufficient in terms of providing both essential and non-essential amenities and services. They can even continue to do so long after the original developer has ceased their involvement with the community.
A CDD is governed by its Board of Supervisors, which is elected initially by the landowners, then begins transitioning to residents of the CDD when the number of registered voters reaches 250 and the CDD has been in existence for six years. Like all municipal, county, state, and national elections, the Office of the Supervisor of Elections oversees the vote, and the CDD Supervisors are subject to state ethics and financial disclosure laws.
What are the direct benefits of a CDD to residents?
Residents and property owners in a CDD set the standards of quality, which are then managed by the CDD. The CDD provides perpetual maintenance of the environmental conservation areas. This consistent and quality-controlled method of management helps protect the long-term property values in a community.
The CDD provides landowners with consistently high levels of public facilities and services managed and financed through self-imposed fees and assessments.
The CDD also ensures that these community development facilities and services will be completed concurrently with other parts of the development. CDD landowners and electors choose the Board of Supervisors, which is able to determine the type, quality and expense of CDD facilities and services.
Savings are realized because a CDD is able to borrow money and finance its facilities at lower, tax-exempt, interest rates, the same as cities and counties. Many contracts for goods and services, such as annually negotiated maintenance contracts, are subject to publicly advertised competitive bidding.
The CDD makes it possible for the community to offer the most desirable elements of a master-planned community. Residents enjoy high-quality infrastructure facilities and services with the standards of the community will be maintained long after the developer is gone. With a CDD in place, residents are assured of the ability to control quality and value for years to come.
What is the cost of a CDD?
The CDD issues Special Assessment Review Bonds to finance community infrastructure. Generally, Community Development Districts assess each property owner a yearly capital debt service assessment to pay back those bonds. In the case of the CDD a significant portion of this capital assessment will be prepaid by the developer at the time of closing.
Because costs and services vary depending upon the individual CDD, specific fee information is available for each community. Property owners in a CDD are subject to a non-ad valorem assessment, which appears on their annual property tax bill from the county tax collector and may consist of two parts–an annual assessment for operations and maintenance, which can fluctuate up and own from year to year based on the budget adopted for that fiscal year–and an annual capital assessment to repay bonds sold by the CDD to finance community infrastructure and facilities, which annual assessments are generally fixed for the term of the bonds.

In addition, to maintain the facilities of the community and administer the CDD, the CDD conducts a public hearing each year at which it adopts an operating and maintenance budget. The funding of this budget is levied as an operating and maintenance assessment on each property by the Board of Supervisors. All residents pay for a share of the maintenance of the CDD improvements through this annual assessment.
How are annual assessments determined?
The CDD's annual operating and maintenance assessment amount is set by the Board of Supervisors. A CDD may impose and levy taxes or assessments, or both taxes and assessments, on the property. These taxes and assessments pay the construction, operation and maintenance costs of certain public facilities and services of the district and are set annually by the governing board of the district. CDD assessments are collected in advance.
Property Tax - Example
$ 24.8351 of assessed value (example - @ 1800 sf) assessed value $111,500 (non homestead)
• AV
• NAV
• Total$2769.11
$1315.95
$4085.06
**Non AV are:

• PSL Stormwater Traditions Improv/Maint
• PSL Solid Waste Assessment (refuse coll)
• Trad. Operat/Maint
• Trad. Bond$153.00
$262.62
$48.00
$852.33

Last edited by JERSEY MAN; 01-14-2014 at 07:37 PM..
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Old 01-15-2014, 06:54 AM
 
1 posts, read 6,245 times
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Is it possible to pay off your CDD?
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Old 01-15-2014, 07:04 AM
 
Location: New Jersey/Florida
5,818 posts, read 12,621,877 times
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Quote:
Originally Posted by Heddoy View Post
Is it possible to pay off your CDD?
I shortened my prior response. Yes you can pay off the listed first section of it. That is fixed. Assessments from 2 to 4 can be raised yearly.

The Property taxes include the following non-ad valorem annual tax assessments: (i) a fixed annual assessment levied by the Community Development District ("CDD") over a thirty (30) year period in connection with the issuance of Community Infrastructure Bonds ($852.33 in 2008); (ii) an annual operation and maintenance assessment associated with the CDD based on the District's annual budgets ($76.61.00 in 2008); and (iii) an annual assessment levied by the City of Port St. Lucie for the maintenance and improvement of the storm water utilities, ($123.00 in 2008); and (iv) an annual assessment levied by the City of Port St. Lucie for trash collection ($253.70 in 2008). The assessments in (ii), (iii) and (iv) above are subject to annual increases.
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Old 01-15-2014, 07:43 AM
 
142 posts, read 230,554 times
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JM & FLB - thank you very much for your research. While looking at a house in Town Park I have found the following:
$852.33 - Traditions Bond
$179.64 - Traditions Oper/Maintenance
I did check with the neighborhood HOA and learned that they don't mow - PGA does. Fees seem to be about the same (in fairness, maybe a bit more in PGA).
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Old 01-15-2014, 12:19 PM
 
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Quote:
Originally Posted by JimT7406 View Post
Tradition and P.G.A. both have very high monthly H.O.A. dues. I would skip on them unless I was a golfer and then maybe I would consider P.G.A. As to Tradition. the H.O.A. numbers are scary high, those numbers are above full service 55 plus communities that have every amenities under the sun plus on site social directors? H.O.A. numbers in the $300 to $400 per month range in PSL is just to high and it effect values. Tradition is a beautiful looking community with beautiful roadways but when the numbers are out of whack then one needs really determine if the numbers make sense. Add in the CDD of about another $90 per month and along with the property taxes you are in for a minimum of $800 a month without a mortgage and before you turn on the a/c. These H.O.A. numbers are double or more than almost any community in S.L.W. By the way the CDD in SLW is in the $200.00 range annually versus $900 in Tradition. Both Tradition and P.G.A. are beautiful communities but for me not at those numbers.
I've been researching Tradition a lot recently. My husband and I went to check it out last weekend and we loved it. But your numbers seem off from my calculations.

We specifically looked at TownPark. Their HOAs are $276 /mo (includes your neighborhood's HOA, Town Park HOA and Tradition's HOA). It's a good deal to me. Where I came from I paid $289 and got A LOT less included. Keep in mind that figure includes basic cable, internet and home security monitoring ... so you can pretty much knock off your cable / internet bill each month unless you choose to upgrade your package. Town Park's HOA does not cover lawn care, and I've not priced out the service, but I can't think it would be much more than an additional $50 a month. Or buy yourself a mower, or some scissors if you're lawn is small enough and do it yourself.

I did my own research on taxes as well. Unless I'm a moron and I'm reading the tax information incorrectly, from the splattering of houses I looked at, the average tax bill is around $1,500 / YEAR. That figure includes the special assessments for the CDD.

My figures have me in a house around $250,000 with modest options and downpayment, including HOA, taxes, insurance for around $1,700 a month. So how are you arriving at $800 a month before a mortgage or before turning on the AC? Unless I'm missing something .....
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Old 01-15-2014, 12:53 PM
 
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I don't live in Tradition but I looked up a few homes there that sold in that price range and they taxes are way more than that 2/3 times more actually ... Maybe someone who lives there could shed some more light on the taxes
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Old 01-15-2014, 03:54 PM
 
142 posts, read 230,554 times
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Quote:
Originally Posted by artanis50 View Post
I've been researching Tradition a lot recently. My husband and I went to check it out last weekend and we loved it. But your numbers seem off from my calculations.

We specifically looked at TownPark. Their HOAs are $276 /mo (includes your neighborhood's HOA, Town Park HOA and Tradition's HOA). It's a good deal to me. Where I came from I paid $289 and got A LOT less included. Keep in mind that figure includes basic cable, internet and home security monitoring ... so you can pretty much knock off your cable / internet bill each month unless you choose to upgrade your package. Town Park's HOA does not cover lawn care, and I've not priced out the service, but I can't think it would be much more than an additional $50 a month. Or buy yourself a mower, or some scissors if you're lawn is small enough and do it yourself.

I did my own research on taxes as well. Unless I'm a moron and I'm reading the tax information incorrectly, from the splattering of houses I looked at, the average tax bill is around $1,500 / YEAR. That figure includes the special assessments for the CDD.

My figures have me in a house around $250,000 with modest options and downpayment, including HOA, taxes, insurance for around $1,700 a month. So how are you arriving at $800 a month before a mortgage or before turning on the AC? Unless I'm missing something .....
Average tax bill $1,500 per year? I respectfully suggest you re-check that. Boca Executive Reality has a great site where you can drill down to a house and than further drill down to the St Lucie tax site. You can then look at the actual bill which breaks down specific charges.
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Old 01-15-2014, 05:47 PM
 
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As to property taxes, for a ballpark figure you can estimate 2% of the total price of the home. Not sure where you are getting $1,500 but you should go to the S.L.C. Property Appraiser website and put in some older homes in Townpark to get a real idea of where the tax number will really be.
My point on the C.D.D. is that it is a high number on top of an already high H.O.A. number and this all adds up.
The Town Park number at $276 as you say does not include lawn care so add that plus any upgrades to the base cable and internet package and you can add another hundred minimum to the $276 number. By the way if Townpark is still developer controlled when the turnover takes place you can pretty much bet the H.O.A. will go up and match other communities there.
So back to my original point, $276 a month for H.O.A. plus the extras noted above, plus the C.D.D, taxes and insurance and again you are in the $800-$1,000 range without a mortgage and before you ever turn on your electric.
I hear all the time about what you get covered in the H.O.A. fee and think for these numbers you are getting very little. Again, IMO these are incredibly high numbers,especially for the P.S.L. market. Except for Cascades which is a 55 plus community with every amenity and full time staff I do not think any other H.O.A. in SLW has a monthly fee over $200 a month and they have everything and more than the amenities in the Tradition communities. The gap is just too wide.
Just putting something out there to think about.
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Old 01-15-2014, 07:21 PM
 
Location: deep woods
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Default PGA Village v Tradition

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Most crucially, Both PGA and Tradition come with complete snow shoveling service, guaranteed in each deed as free in perpetuity. Every time it snows someone will be there and have your sidewalk and driveway shoveled clear by 6 am. Trust me on this.

Older is not bad in all ways. The ‘older’ area of PGA Village, through the main gate to Reserve Blvd. and beyond, has properties that are generally more spread out. This area of PGA Village was originally known as The Reserve. It’s not anything like Tradition. If you are someone who likes a little more quiet, less traffic, roads that you may feel safer biking or walking on, more the feel of estate homes, mature trees, some of the homes being on a golf course, you may like it.





If you can find a home in your price range in this well established portion of PGA Village, it could be a very wise choice and a good investment. Especially, if you can handle a home that may need a little updating, if you shop carefully you can find some very nice estate sized sites at good prices.

It is nice to buy new and in a new development, but keep in mind much of what you are paying for is developer costs and profit and it takes years to recover that in real saleable value.

In PGA Village lawn service is not included on homes on the larger lots, i.e. on Plantation Lakes, Saddlebrook, and on similar streets. It is also good to be aware that while most PGA Village homes on smaller lots have ‘city’ water and city sewer, the exceptionally nice homes on Plantation Lakes and similar have ‘city’ water and septic, while the gorgeous homes on Saddlebrook are all on well and septic. Saddlebrook and off chutes have the largest lots. Take a look via satellite and you’ll get an idea pretty quick.

As far as HOA dues, you’ll have to do your homework on each street, but I think generally speaking you’ll find HOA costs, for what you receive at each, are less at PGA Village than Tradition. Also ask early about any “capital contribution” fee. Some of the newer developments, harder hit by foreclosures and so non-payment of dues, are rebalancing their books by charging new buyers a fee. It comes under different nominal terms. So far I haven’t heard it called Shakedown, out loud.

If you need to be closer to stuff going on, you may prefer Tradition. Or, from PGA Village, it’s a fun bike ride to Tradition!

Regarding internet and phone service between the two, Home Town Cable controls the hard lines in Tradition. Home Town also has the area of Verano in PGA Village.

I was at the grand opening of Verano several years ago, which is a newer section of PGA Village in the direction of Tradition. One of the salespeople was making a big deal that Verano had Home Town cable for phone and internet and tv cable. A man laughed and said ‘I have Home Town service and that’s not something I’d be bragging about if I were you.’

Also be careful not to confuse St Lucie West with PGA Village. They are 2 separate places adjacent to east other. PGA Village is not in St Lucie West. Current iPhone map shows PGA Village going across all of St Lucie West.

Either way, Tradition and PGA Village are both pretty cool places.


Happy hunting!


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