No CDD Communities in And Around Lakewood Ranch
A Community Development District, also know as a CDD, is a special-purpose local government entity created to finance and ultimately manage the maintenance and development of services and infrastructure within a specific community or, as the name states, a district. In the case of Lakewood Ranch, a CDD offers several benefits, but there can be some potential drawbacks. Homes for sale in Lakewood Ranch have a higher tax bill as a result of a CDD, but considering Lakewood Ranch is the #1 master planned community for 5 years running--the value is there in the eyes of prospective purchasers.
There are not many homes for sale in Lakewood Ranch that do not have a CDD. One community that is particularly attractive and has a section in the community with no CDD is Indigo. They are not easy to find, but we know what years they were built and can certainly be on the lookout for them. There are also some fabulous communities like Eagle Trace, Serenity Creek, and the River Club that are not in Lakewood Ranch but might as well be given their proximity to Lakewood Ranch. We can give you the full rundown of your options...just reach out and we might be able to help your wallet if you are set on not having a CDD!
Pros of a CDD in Lakewood Ranch:
Infrastructure Development: CDDs help develop key components of a community, including roads, utilities, parks, and recreational facilities. This ensures a well planned community from an infrastructural perspective--and, after all, Lakewood Ranch is called a "master-planned community".
Enhanced Services: CDDs can provide additional services beyond what an ordinary governmental entity can provide. This might include landscaping, maintenance of common areas, recreational programs and security too--these benefits usually result in a higher quality of life.
Local Control: CDDs are usually governed by a board of supervisors elected by the district residents. This gives residents a voice in decision-making processes, allowing for more of a say over the community's development and management.
Financing Flexibility: CDDs have the authority to issue bonds to allow for more flexibility in financing large-scale projects without relying solely on traditional taxes.
Cons of a Community Development District in Lakewood Ranch:
Additional Financial Burden: This one should be obvious--CDD residents are subject to additional assessments in addition to regular property taxes. These assessments can be to fund ongoing maintenance and services and, of course, to repay bonds.
Lack of Transparency: The board of supervisors might not be apt to consider the diverse interests of the community, and there could be limited opportunities for public engagement.
Limited Accountability: As separate entities from local government, CDDs may have a perception of reduced accountability. This can lead to concerns about potential conflicts of interest within the CDD governance structure and, importantly, how the funds are utilized.
Potential for Mismanagement: Like any government entity, there is a risk of ineffective governance within a CDD and the mismanagement of funds for the benefit of the district. If the board of supervisors or management is not effective, it can lead to disputes, inefficiencies, or inadequate service delivery.
The good news is that Lakewood Ranch has a proven track record in the creation and implementation of CDDs. Homes for sale in Lakewood Ranch continue to sell at an accelerated pace, which further supports the notion that prospective buyers are willing to pay a little extra to have the services, infrastructural improvements, and amenities that a CDD can provide.
If you are looking for an established neighborhood in Lakewood Ranch, with an array of popular amenities, with plenty of opportunities to soak in nature, look no further than Greenbrook. Welcome home!
About the Author: Robert Casella, JD, Realtor, CRS, CLHMS, CIPS, RENE specializes in niche communities and neighborhoods in and Lakewood Ranch, Wellen Park, Parrish, and Downtown Sarasota. His numerous accolades, wealth of market knowledge, extensive experience, and commitment to continuing education are key reasons you should consider him as your realtor of choice in your real estate journey. Don't take his word for it--trust his numerous 5 star reviews from real customers that have expressed confidence in his integrity, passion, and profound motivation for doing his very best for you.