A Community Development District (CDD) is a local, special purpose government authorized by Chapter 190 of the Florida Statutes as amended and is an alternative method for managing and financing infrastructure required to support community development. Real Estate in Lee County, which includes the cities of Bonita Springs, Estero and Fort Myers may be subject to a CDD.
Continue Reading: What is a CDD
Thanks for the good information. I was able to forward this to my clients.
Dennis Brando, Pa
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My wife and I found a number of properties in the Land O'Lakes area that we marked for further consideration. When we got the data sheet on several of them we were absolutely stunned to find the hidden costs in owning property in Florida. The average $4500 per year property taxes weren't bad ... but then they started adding $3600 for HOA and another $1200 for CDD. CDD .... what a gem! Can someone explain to us what my HOA fees are buying if the CDD pays for common area maintenance and all the frills? We presently live in an adult gated community with a HOA and our fees pay for common are maintenance (greens, roads, exterior structure maintenance, gardening, etc...) there is no such animal as a CDD. Excuse us for saying so but this appears to be a thinly disguised way for the government to which you pay taxes to weasel out of spending the dollars to support infrastructure. BTW ... since the CDD is a fee for service it probably isn't tax deductible either ... are we right?
We don't mind paying for what we get ... but we like to get what we pay for. Are there any "other" hidden costs to owning a home in Florida? If so can someone list them or provide a list of where we could find further information?
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I am running into the same seniaro. I found a beautiful townhouse in a development which charges 188.00 for HOA fees. However when i look up the address to the property on miamidade.gov website it shows the property taxes plus this cdd fee which the property taxes are 1550 a year and this cdd fee is also 1550.00 a year also the HOA is 2256.00 a year. I mean this is unbelievable i can not see HOA covering greens,roads,street lights, if cdd claims to do just the same thing. Can this be explained in further detail to me as this is going to make me not buy the house. Because my house is simply 90,000 dollars but my mortgage would come out to the near 1200.00 a month because of all these extra fees. Also my co-worker just bought a house 130,000 and his mortgage payment is a simple 1000 dollars a month. This is mad that I will have a smaller and cheaper house than he does but pay more every month. How could this be possible. Also his taxes are cheaper than mine and we are not even 5 minutes apart from each other. I can not understand this.
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