What are CDD Fees in Lakewood Ranch?
Learn more about living in a Community Development District in Lakewood Ranch
What's a CDD fee?
A CDD fee, also known as a Community Development District fee, is a public bond that is shared among homeowners for the installation and maintenance of utilities, water and sewer, roads, fire prevention, and landscaping.
Benefits of a CDD
In theory, CDD's should benefit everyone. By maintaining properties, their value is worth more which brings higher property taxes to local governments. Builders like them because they don't have to use their own money to install infrastructure, and home owners like them because they are paying for utilities in smaller installments.
Lakewood Ranch has no city tax. You are likely paying this kind of tax to maintain infrastructure to your town or city where you live now, it's just called something different here in Lakewood Ranch.
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More about CDDs
The Lakewood Ranch CDD bond period is 30 years for all resale and new construction homes.
Once the original bond has been paid, CDD fees never go completely away. The CDD may contine to collect payments to provide services, if approved by residents within the CDD. You should also know that CDD fees can increase from the time you purchase your home.
In Manatee County, the CDD bond payment fee (for debt service) and the CDD management fee (maintenance of common areas and utilities) are listed as separate line items in your tax bill (listed as "stewardship").
CDD fees in Manatee County Property Tax Bill
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