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Old 04-18-2009, 06:36 PM
 
44 posts, read 171,388 times
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Does anyone know if the Mellos Roos and other assessments are tax deductable? Also, When buying a home, is it normal to pay back taxes based on purchase price? I am looking at a foreclosure and want to be sure I understand everything.
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Old 04-18-2009, 07:05 PM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,793,178 times
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I had a home in California with Mello Roos. I deducted it every time. The assessment was on my property tax bill.

I don't understand the question about back taxes based on purchase price.
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Old 04-19-2009, 01:22 AM
 
1,977 posts, read 6,864,775 times
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Based in info given to me Mello Roos is not tax deductible even though it shows up on your tax bill. The is info on this on the franchise board website.
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Old 04-19-2009, 07:17 AM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,793,178 times
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Quote:
Originally Posted by 00molavi View Post
Based in info given to me Mello Roos is not tax deductible even though it shows up on your tax bill. The is info on this on the franchise board website.
Looks like you are correct.

Are Mello-Roos taxes deductible on your personal income tax return?
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Old 04-19-2009, 11:26 AM
 
1,319 posts, read 4,244,527 times
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Mello roos is not tax deductible but people do it anyway.
By back taxes I am assuming you are talking about property taxes. Yes, you have to pay back taxes based on the period that you own the property before the next property tax period begins.
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Old 04-19-2009, 06:07 PM
 
Location: Columbia, California
6,664 posts, read 30,624,858 times
Reputation: 5184
The OP is looking at foreclosures, and sometimes there are unpaid taxes due.
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Old 04-20-2009, 03:53 AM
 
636 posts, read 2,645,497 times
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Quote:
Originally Posted by ferretkona View Post
The OP is looking at foreclosures, and sometimes there are unpaid taxes due.
I bought a foreclosure. The bank holding the property paid the unpaid taxes and delinquent HOA fees before escrow closed.
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