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Jackie Colson-Miller

Jackie Colson-Miller
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The Tampa Real Estate Market and CDD fees in Neighborhoods

This summer I am relocating many families to Tampa, and explaining the various “nuances” about the Tampa Real Estate Market.  One of the “most asked” questions is “What is a CDD fee?” Since that term is very unfamiliar to most buyers who are moving to Tampa from other cities, here is a brief explanation of CDD fees.

A CDD is short for Community Development District, which finances and manages community developments.

Tax-Free Bonds are issued to the developer to finance the cost of building the infrastructure of a development, including roads, utilities and many amenities including, pools, clubhouses, tennis courts, golf courses, etc. Homeowners in the development pay the costs of the CDD over the span of 15 to 30 years. There are a number of communities with CDD fees in Tampa, and throughout the State of Florida, so if you are looking for real estate in Tampa, or anywhere in Florida, you should know about these fees.

Can CDD fees go up? Yes. The CDD fees appear on the homeowners tax bill. Each Community has a CDD board, initially appointed by the developer, which decides whether to include additional assessments into the CDD fee. If a community decides to do additional Chev_1landscaping, revamp the golf course, add gates, or any other amenities, those costs may be added to the existing CDD fees. That would increase a total tax bill and increase the escrow required by your lender.

What can you do if you live in a community with a CDD fee? Stay informed. Know who the members of the CDD board are and attend any meetings regarding CDD fees.

 You can find a list of all communities with CDD fees in Florida here. For assistance in finding a house in Tampa, or any of the surrounding suburbs, or any questions about the Tampa Real Estate market, please contact me.

I can help with your move to any Tampa neighborhood, including: South Tampa, Davis Islands, Beach Park, Sunset Park, Hyde Park, Culbreath Isles, Palma Ceia, Westchase, Waterchase, Odessa, Cheval, Avila, Brandon, Riverview, FishHawk, New Tampa, Tampa Palms, Hunters Green, Arbor Greene, Apollo Beach, South Shore, MiraBay, Golf Communities, Clearwater Beach, Waterfront Homes, Luxury Homes in Tampa, Condos in Tampa and International Real Estate contact me today!

 

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This entry was posted on Tuesday, July 29th, 2008 at 7:18 am and is filed under Buyers, Buying a House in Tampa, CDD in Tampa, Cheval Homes, Gated Communities in Tampa, Golf course communities in Tampa, Hunter's Green Homes, MLS Search, Moving to Tampa, Tampa Neighborhoods, Tampa Real Estate, Tampa Real Estate Market, Westchase. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “The Tampa Real Estate Market and CDD fees in Neighborhoods”

  1. Eric- New Orleans Condos and Lofts Says:
    July 30th, 2008 at 9:31 am

    Since we have none of these fees in New Orleans its good to know these little tidbits. It would seem this is a tax passed to the owners rather than having the developers pay upfront. They must have the connections to get this passed on to their cleints.

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