About Property tax

[ColfaxTeri]

Originally Posted by ferretkona

In CA we have it locked in at 1% of the purchase price, but it seems as thou mine is at 1.1%.
If you refinance the tax will increase to the new mortgage.
Ours includes schools, police, parks.
Garbage is expensive here and is included with the water and sewer bill.

Some towns/counties have voted in a "Mello Roo" tax, basically returning their tax load to pre prop 13 taxes. There they are much increased.

Property tax is based on the assesed value of the property, not neccessarily the purchase price. Refinancing will not trigger a property tax change, only a sale or reassesment due to improvements. The counties can increase value of a property by the limits set forth in Prop 13, so every year your assesed value changes. A property owner can request a review of the assesed value due to market changes (like now) if granted that is only temporary. Property taxes in the Auburn area are running about 1.25% of assessed value. Other bond and special assement districts will add to the property taxes.
Mello Roos bonds are generally set up with new construction to help pay for all types of projects that benefit that development, roads, parks, schools, lighting. They can vary in length and costs, sometimes a buyer can pay them off all at once at the purchase or they just carry on with the property till the bond is paid off. You can find out more information from each counties assessor and tax collector office.

[MapleLeaf]

Originally Posted by ColfaxTeri

Mello Roos bonds are generally set up with new construction to help pay for all types of projects that benefit that development, roads, parks, schools, lighting. They can vary in length and costs, sometimes a buyer can pay them off all at once at the purchase or they just carry on with the property till the bond is paid off. You can find out more information from each counties assessor and tax collector office.

We talked with some owners in Folsom who is paying Mello Roos. They told that next year they will finish tto pay Mello Roos (after 10 years), the question if we buy their house, should we pay this tax?

[suzie02]

Go into the link I gave you before. Put in the address for the house and you should be able to see the description of that Mellow Roos.

[MapleLeaf]

I did and found only amount that were paid, I couldn't find answer to my previous question....

BTW, is there a link to the same info for Rocklin and Granitte Bay?

[suzie02]

Originally Posted by MapleLeaf

I did and found only amount that were paid, I couldn't find answer to my previous question....

BTW, is there a link to the same info for Rocklin and Granitte Bay?

Did you click on the link for the direct levy's portion? That is where it tells you about Mello Roos.

[DMenscha]

Originally Posted by MapleLeaf

We talked with some owners in Folsom who is paying Mello Roos. They told that next year they will finish tto pay Mello Roos (after 10 years), the question if we buy their house, should we pay this tax?

The tax runs with the property, not the individual, if there is a balance owing on the Mello-Roos obligation, the owner of the property, no matter who it is, is obligated to pay it.

BTW, your tax bill is itemized so that you can see what your tax dollar is going to, but if you withhold a portion of your taxes for something you don't like, the tax collector would regard it as an unpaid lien against the property.

[suzie02]

Originally Posted by DMenscha

The tax runs with the property, not the individual, if there is a balance owing on the Mello-Roos obligation, the owner of the property, no matter who it is, is obligated to pay it.

BTW, your tax bill is itemized so that you can see what your tax dollar is going to, but if you withhold a portion of your taxes for something you don't like, the tax collector would regard it as an unpaid lien against the property.

I think the OP is being told that the Mello-Roos will be paid up. I would never take their word for it and I would call the appropriate business office that handles it to verify.