What in the world is a CDD?!
Posted by Robert Alpizar on
Good Question!
CDD stands for Community Development District.
The short definition is: New Communities are taxed by the city in order to pay for the improvements necessary to accomodate all of the new residents that will be moving into that area. Now the developers of those communities do not want to pay that tax, so they are passed on to the home buyers whom purchase their New Homes. The CDD tax is a fixed amount, and is spread out in smaller amounts that are added to your annual tax bill. When a New Owner sells the home, the remains balance is transferred to the new owner. That is my definition of CDD... for a definition from a much smarter person, see below. ;)
A Community Development District (CDD) is a local, special purpose government…
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