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What are CDD's ? ...and where does it go to?
Buyers Answers
Community development districts (CDDs) are independent special-purpose units of government established to finance basic services within a development, including infrastructure construction, services and maintenance. Common infrastructure improvements provided by CDDs include drainage, potable water, sewerage, roads and parks. Developers seek CDD approval to obtain low-cost financing by issuing tax-exempt bonds, with lower interest rates. CDDs also have the power to collect fees, levy lienable assessments or ad valorem taxes against properties within the project for repayment. CDDs are required to have a five-member board of supervisors, elected by the landowners.
For the List of Community Development Districts please click here.
Website: www.hillsboroughcounty.org/pgm/communityplanning/
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