CDD Fees - What You Need To Know About CDD Fees in Florida
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- Опубліковано 2 чер 2018
- Have you ever wondered what CDD Fees are? How CDD Fees work or What you need to know about CDD Fees? In this video I will explain them in detail.
Contact me at www.tampa2enjoy.com/contact-us/
Every week I talk to home buyers, sellers and other Realtors that don't know what CDD fees are or how the really work.
So I decided to do a video telling you everything you need to know about Community Development District fees.
Check out this video on what you need to know about Florida Property Taxes and homestead: • Florida Property Taxes...
Get more information on CDD fees at en.wikipedia.org/wiki/Communi...
Please contact me if you have any questions.
Sincerely,
Lance Mohr
Mohr Home Group at Keller Williams
813-317-4009
www.tampa2enjoy.com
/ tampa2enjoy
As a home owner here in CO I've never seen anything like a CDD fee. Seems like an underhanded way to hide the true HOA fees from residence.
CDD applies to larger communities and blocks, rather newly developed parts of a neighborhood with roads, shopping centers, parks etc. CDD is not for a small condo or single development.
I live in the Austin Texas area and they are building new neighborhoods left and right. I’ve never heard of the CDD fee either. On the other hand, we have very high property tax but that’s no matter new or old neighborhood.
The CDD appears under the" Non Ad Valorem Taxes" in the tax bill.When using the tax estimator keep in mind the "Non Ad Valeorem Taxes" are not included in the estimate .The current owners tax bill is based on the amount they paid when they purchased the home which means your (new owner) tax bill will be higher the following years.
This was incredibly helpful. Thank you so much!
This is very helpful. Thank you, Lance!
Very informative as always!
Great information I paid a year CCD 1,800 for 2006 house Tampa Florida
Thank you for watching the video. I'm glad it was helpful to you.
Great explanation and now I have a better understanding of what the CDD Fee is and what it is for.
Thank you !
Great never heard of these!
I'm from Arizona and sell with a builder in Jacksonville. I was having a hard time explaining the CDD fee. This was so helpful! Thank you.
I just bought a new construction home this weekend and was totally confused on CDD's. Thanks so much for this informative video Lance!
You will know what a CDD is when you receive your property tax
Appreciate this video sir
Thank you for watching.
This is a great explanation, I am finding more people that are wanting to buy older homes to avoid CDD/HOA fees. I think that buyers are more "accepting" of these fees if it was included in the price of the home.
CDD is because the county does not want to raise taxes to pay for new infrastructure BUT this hurts new community by creating new administration that needs employees. Our CDD is $4000 with a POA of $600. So it looks like $4000 CDD - $2233.81 Bond = $1766 maintenance. This is after the 30th year $147 a month maintenance plus the POA of $50 would be about $200 a month. (P.S. We are 250 homes with 800 acres)
Amazing
Bottom line avoid CDD communities in Florida like the plague. They never go away. And they are in addition to your HOA fees. And the CDD BOD can always issue new bonds and special assessments in addition to your current CDD bond to pay for additional upkeep of community property. And you have no choice but to pay them. Or sell. It's like an additional mortgage payment that never goes away! And it's in addition to your annual property tax bill. 34-year Florida resident that has bought and sold over 9 properties. I've met many out of state buyers that are clueless about CDDs.
Where I live, they separate the CDD fee from the maintenance fee. You see both on your tax bill. Once the CDD is paid off it goes away and all you see is the maintenance fee on your tax bill
It sounds pretty simple there's a bond to build it and fee to maintain it.
When the Bond portion of the CDD expires, what happens to those required funds that you were paying? Thanks
@The Mohr Home Group - ya, that's exactly what I was wondering - what happens when the Bond term ends? Thx
You still will pay maintenance for life
What happens once it expires?
im a new realtor i need all the insider (TX)
Most communities charge a large CDD and HOA, the example of an $80 a year HOA doesn't exist.
Not true. Working with a $2500 CDD and a $46 HOA right now. His example is spot on!
One the bond expires, does that part of the fee drop off?
Yes, but maintenance (much smaller portion) stays
@@dimitarpavlov3955 thank you!
What happens when the 30 years are up? The cdd fees go lower?
Yes, but for life you will pay maintenance
The CDD fee is a new concept for me. I have learned about it as I’ve researched moving to Florida. I live in Texas and we don’t have that. At first I was like “this really stinks!” But at the same time, our property tax (which covers roads, etc) is sky high here. Ours is about $8,000 a year! Florida property tax seems to be much lower. So... I guess it all equals out in the end.
CDD can be worth it with all the amenities in the community. I move from Texas and it was boring. There were no trees or water.
@@Tampa2Enjoy LOL not sure where you lived (the desert maybe?) but we have plenty of trees and water! (I have 16 trees in my backyard.) You do know we are also on the Gulf Coast, right?
@@penelopepitstop762 I lived in Dallas Texas for 8 years. It is known as the concrete city. Not a lot of water or trees.
@@Tampa2Enjoy that’s like saying NYC has no trees or water. I’m a native Texan and I’m not that fond of Dallas either, but it is a huge city - I’m sure in the top 5 - and they offer as much to do as any other large city. I’m in Austin (known as the hill country) and although we are in central Texas, not along the coast, we have lots of trees and water and plenty to do. Dallas does not represent the State. :)
@@penelopepitstop762 I can only speak from where I lived. I know Austin and it is a great place. I moved out of Dallas because it was too boring for someone who likes the outside. That is my opinion coming from California.
youre like the perfect lender i was looking for dude! it seems like you havent been posting. hope to see some new content soon
Is a CDD fee the same as Impact Fees?
No.
How do i shop for a realtor, any suggestions? Thanks, I'm in NYC. Looking to buy a Condo in Connecticut.
Total rip-off
@@Tampa2Enjoy The developers get the bond or loan at a low interest rate and get to write off the expenses associated with it. Meanwhile I move in and have to pay $$$ on the bond. I get no tax break. The roads and upkeep should be at the country expense. There is little to no regulation on how much the cdd fees are they can be raised if the developers want to. As for hoa never again. I lived in one for 25 years and too much bs. Those that were on the board had one set of rules for themselves and another for everyone else. I’m paying taxes every year, why should I be saddled with more taxes that the developers should have paid for. Supposed I bring a modular home? How are the cdd fees assessed?