What Are CDD Fees? + BONUS [2021 Edition]

If you’re looking at Florida homes for the first time, you’re probably wondering what the heck a CDD fee is. CDD stands for “Community Development District.” It’s main purpose is to plan, finance, construct, and operate community-wide infrastructure and amenities for residents to enjoy. 🌴🌴

The neighborhood developer takes out a bond to get access to the money to create all of this infrastructure – the bond is paid back by residents over periods typically 20, 25, or 30 years.

𝗛𝗼𝘄 𝗱𝗼 𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁𝘀 𝗽𝗮𝘆 𝘁𝗵𝗲 𝗖𝗗𝗗 𝗳𝗲𝗲?
The yearly cost of the CDD fee is part of your non-ad valorem property taxes. Combined with your ad valorem taxes, this creates your total tax bill for the year.

𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝗶𝘀 𝗮 𝘁𝘆𝗽𝗶𝗰𝗮𝗹 𝗖𝗗𝗗?
The amount varies widely from neighborhood to neighborhood, but I’ve noticed that most of the new, large, master-planned communities here in the Sarasota area have CDDs around $1,000 to $2,000 per year.

𝗦𝗨𝗕𝗦𝗖𝗥𝗜𝗕𝗘 to this channel if you want to learn about real estate, home ownership, or living in the Sarasota area: https://bit.ly/3o5zYv9

⏱ Timestamps ⏱
0:00 – Intro
0:40 – What Does CDD Stand For?
0:49 – What Do CDD Fees Cover & Why are They Needed?
1.28 – How Much Does a CDD Cost?
2:16 – Tips to Know About CDD Fees
4:20 – BONUS
5:46 – Conclusion

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