[jpn98303]

We are looking to buy our retirement home in the las vegas area. I have seen this term a couple of times and it looks like some kind of a tax on improvements.. if someone could give me a short rundown on this I would appreciate it

[lvkewlkid]

they are basically a tax until they get paid off

they are more or less a lien against the property and are used to build sidewalks, roads, and streetlights, then when the term is over, usually around 20 years, it is paid off...

when you sell a home, it just gets transferred to the new homebuyer i believe...

[jb1234]

Originally Posted by olecapt

SID/LIDs are generally paid twice a year for 20 years.

What exactly is this? (I know nothing about HOA's and the like)

[olecapt]

Originally Posted by jb1234

What exactly is this? (I know nothing about HOA's and the like)

SID/LID (Special Improvement District/Local Improvement District). Basically a property tax used to pay off a bond that was used to create the infrastructure in a master planned community. The town borrows a large sum of money, puts in streets, parks, sewers and then charges all the property owners a biannual tax to pay off the money borrowed.

Commonly used in places like Summerlin and Aliante and such.

[007 license to sell]

Originally Posted by Sammy17

Does the community have community swimming pools and spas that homeowners can use?

How far is the drive to lets say The Venetian compared to The Venetian from St Rose Parkway/Silverado/Henderson Airport area?

Also any info on how much HOA fees are?

Thanks

Here is a link to the official Mountains Edge.
Mountain´s Edge
They don't have a community pool or spas, only some of the other planned neighborhoods might offer that. Mountains Edge is master planned community that is about 15 to 20 minutes from the strip depending on the traffic. Hope this helps

[007 license to sell]

Originally Posted by jb1234

What exactly is this? (I know nothing about HOA's and the like)

A sid stands for special improvement district in other words, roads and water and electricity, plus the grading of the land ect were made to build the community. The builder didn't want to pay the county to put these in so the builder passed it along to the buyers or owners. Some you can pay off sooner some you can't .

LID is the same thing except it stands for Land improvment district.
HOA stands for Home Owners Association, that is usually set up to protect home owners property,meaning rules and regulations that prevent certian things like no juck cars, no dead plants in front yard, maybe prohibiting a business to be run out of the home. It all depends on what the hoa was set up for. When you purchase a property with an HOA the seller is required to give you the CCNR's the rules and regulations so you know what to exect.