A WORD ABOUT "GIFT LOTS"

A WORD ABOUT "GIFT LOTS"=

“Gift Lots” were given away= as a marketing incentive in the early days of Cherokee Village (1950's-1960's). These were small plots of land, usually about 25' wide in an area located OUTSIDE the Cherokee Village boundaries. They were too small to build on, had no utilities, generally had bad roads (if any), and didn't come with any of the rights associated with = real Cherokee = Village property ownership. Fast forward to the present.

These "Gift Lots" are still b= eing marketed (with= a price tag) on eBay and elsewhere. Sometimes = they are referred to as "Gift Lots", but other times not.

One way to spot a "Gift Lot" is if the seller says there are no annual= SID (Suburban Improvement District) fees on the property. This is a warning fla= g, as ALL bonifide Cherokee Village lots HAVE annual fees, usually in the $120-$150/yr. range. If there is no S= ID fee associated with a lot you are looking at, it is not a real Cherokee Village lot, and the buyer won't be entitled to any of the <= st1:PlaceName w:st=3D"on">Cherokee Village privileges and amenities. These include use of all the lakes, golf courses, tennis courts, community centers, etc. If your lot is outside the official = City Limits it is obviously not a Cherokee Village lot. <= /o:p>

THE FOLLOWING SHARP <= st1:place w:st=3D"on">COUNTY ADDITIONS (SUBDIVISIONS) HAVE BEEN DESIGNATED FOR GIFT LOTS:

Second
Fourth
Seventh
Seven A
Twelfth
Thirteenth
Fourteenth
Seventeenth
Hillcrest =
Red Cloud =
Sioux

FULTON COUNTY GIFT LOT ADDITIONS:

Fifteenth =
Sixteenth =

If you are still unce= rtain, you can e-mail us to find out if a specific lot is a Gift Lot. Please include the Lot, Block, and Subdi= vision (in that order).

e-mail: LotInfo@CVSID.net=

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ASSESSMENTS =

If you are considering buying a lot in = Cherokee Village, you will need to be aware= that in addition to real estate taxes, there are additional S.I.D. fees due on e= very lot on a yearly basis. The District levies assessments against each lot bas= ed upon the estimated value that the combined total of all the facilities, ame= nities, and services have to each lot. The levy is assessed against the lot only, without regard as to whether a home is built on the lot. Thus, assessments = are paid by all lot owners, whether resident or non-resident.=

We feel these fees are extremely reason= able for the amenities and services that are provided. It is important for every= one to keep in mind that approximately 80% of S.I.D. assessment income is deriv= ed from non-resident property owners.

An average lot with 91' of road frontage carries benefit appraisals totaling $1,325.00. It is not up to us to determ= ine the overall quality of specific lots. However, if a lot is located directly= on one of the lakes or golf courses, there is an extra valuation for those benefits.

The assessment rate for 2006 will be 10= %, which applied against an average lot valuation of $1,325.00, will result in= an assessment of $132.50. This assessment will be included on the respective county tax bills identified as "Improvement District". The total levies assessed each year, along with the fees S.I.D. collects for use of t= he facilities, together make up the total income of the District, which is used to fund the costs of its operation.

CHECK BACK FEES OWED ON A LOT

Along with real estate taxes, every lot= in Cherokee Village has an annual SID fee atta= ched to it. The SID fees for lots generally average $120.00-$150.00. These reasonable assessments go toward road maintenance, fire protection, upkeep = on all lakes, pools, golf courses, etc. When a property owner stops paying the annual fees, the lot becomes delinquent. If you are interested in purchasin= g a lot, it is vital that you do your "due diligence" to see if there= are any back assessments on the parcel. The SID owns a number of lots that were acquired in a foreclosure action to enforce collection of delinquent assessments. We do not vouch for individual dealers. However, the SID does = have an exclusive contract with American Land Company, LLC to market lots the SID owns. These are marketed on eBay under the seller name "americanlandcompany". All of these lots are curr= ent in both Real Estate Taxes and SID Assessments. To check on the status of fees = due on any lot, you can do the following:
Email the SID with the LOT NUMBER, BLOCK NUMBER, and SUBDIVISION. Simply cl= ick on the EMAIL link near the bottom of this page, supply us with the informat= ion, and we will get back to you shortly with an answer. This is a service we provide for prospective buyers; please do not abuse it--our staff is limited and we cannot honor requests for more than a few lots at one time. Also, accuracy is appreciated...the Lot number= is always given FIRST, followed by the Block number, then the Subdivision. Her= e's an example of an email you might send the SID:

"I would like to know if there are= any back fees due on Lot 15, Block 12, Crow 4th Addition".

You may also email us and ask whether a certain lot is an actual Cherokee Village lot, or only a "Gift Lot".

e-mail: LotInfo@CVSID.net=

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