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The Villages Florida Assessments
The Purchase Price for a pre-owned home in The Villages, Florida is the "negotiated listed price," plus the assumption of any remaining CDD bond debt.* In the case of a new home purchase, the total purchase price is the "non-negotiable" listed price, plus any remaining bond debt, state doc stamps ($7 per every $1000 of purchase price), and the cost of title insurance (about 1% of the purchase price). For pre-owned home purchases, doc stamps and title insurance costs are paid by the seller.
CDD Bond Debt amounts vary significantly depending on the home's location. They may be paid off upon closing the sale or during any year. If left unpaid the balance will amortize and the corresponding principle and interest will be collected by the respective county along with property taxes, as a "Non-Ad Valorem Assessment."
Note The newer the home, the higher the Bond and CDD (maintenance) Assessments. For example, Unit 218 in the Village of Hillsborough south of County Road 466A has a bond balance of $28,204 and a $700 per year CDD Assessment. Whereas, Unit 43 in the Village of Polo Ridge just north of County Road 466 has a bond balance of $1,685 and a $395 per year CDD Assessment.
Making Your Dream Home Affordable
All Rights Reserved Walter Coe, 09/01/2020
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