Mello-Roos of Irvine

Thanks for the clarification that CFD Tax consists of two items. The Strada info sheet shows:

IUSD
AD Tax: $2650/year
CFD Tax: $1700/year
Other Taxes: $162/year

TUSD
AD Tax: $2650/year
CFD Tax (2014-2015 tax year): $1800-$2350/year
Other Taxes: $104/year

AD Tax is the 1915 AD Bond? Does this one expire in 2031?
 
I purchased a Jasmine Cypress Village home in July and we moved in last September. I haven't gotten any Mella Roos bill yet at either the new address or our old apartment (cause it forwards). Have paid the regular taxes ($800 something at purchase, then again a couple months ago). How often and when are you supposed to get the Mella Roos bill? Which website or who would I call to find out if the bill got lost or is due?
 
They sent mine in really late. LENNAR wrote me a letter. Just got it two months ago. Bought last May.
 
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Not sure if land o' lakes/test posted these yet but came across them from the irvinequickrecords site.  Kinda makes me feel a little better about Beacon Park's MR (http://www.talkirvine.com/index.php/topic,12183.msg242675.html#msg242675).  Gonna nickname area 6 as "Tombstone" for now since I don't believe it has an official name yet.  If the cemetery gets built it will be directly south of this area.  Don't recall since LONL nuked his thread titles, but this Tombstone area has less detached housing?  and more attached housing?
 
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So area 7 is suppose to get more detached housing and maybe bigger homes, it is now walkable to the HS from this area of the Great Park.  These homes will have the highest Mello ($16,000+) in Irvine if they build homes bigger than Ryland's Legend in BP.
 
So these MR's are a static number based on range/size of house, let's say market crashes and these new large homes sells for a lot less than today then the tax + MR > 2%. Geez
 
I don't want continue to hijack the Belvedere discussion so continue the 2% MR tax increase discussion here.


DrTravel said:
I've attached the legal disclosure about the three Mello Roos components for Strada. No mention of any possible increase plus it gives dates when certain "taxes" go away.
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I wonder if the disclosure is different between the Strada in IUSD side and TUSD side since there's significant difference in the CFD tax between the two Stradas. 
 

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Is MR tax deductible in irvine?  I'm getting yes' and no's

MR Wiki:

There is conflicting information on whether Mello-Roos taxes are deductible from federal and state income taxes. In general, only "ad valorem" property taxes (based on the value of the property) are deductible. Mello-Roos taxes are not ad valorem property taxes, but rather are generally flat parcel taxes. However, the IRS has stated that:

"Assessments on real property owners, based other than on the assessed value of the property, may be deductible if they are levied for the general public welfare by a proper taxing authority at a like rate on owners of all properties in the taxing authority?s jurisdiction, and if the assessments are not for local benefits (unless for maintenance or interest charges)." [4]

California uses the federal standard for deductibility of property taxes on state income tax. [5] In either case, the taxpayer has the burden to establish that the deduction of Mello-Roos taxes falls under these criteria.
 
Technically MRs are not tax deductible but there is a Fed/IRS ruling somewhere that says they are.

Something about the taxing agencies not being able to properly show the homeowner which ones are deductible and which ones aren't.

We have argued about this for quite a while and in the end, it's what the IRS says.
 
I thought that mello didn't increase in OH and PP but looking at a random sample of homes that have info for more than a year it looks like they do go up 2% a year.
 
Irvine Turtle said:
OH Groves 1915 AD Bond Property Tax jumped 50% this year.  Anyone on the non-gated side see similar jump?
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Got the answer.  The 50% jump on 1915-AD was because for 2015-2016 tax year a credit (from developer?) was applied which has now expired.  For future years the tax amount would be similar and potentially subject to the 2% increase.  This year the Tustin CFD 14-1 portion of the mello roos did go up by 2%, so Groves is similar to the Five Point communities.
 
Ready2Downsize said:
I thought that mello didn't increase in OH and PP but looking at a random sample of homes that have info for more than a year it looks like they do go up 2% a year.
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That is because the other areas don't properly disclose the fact that mella roos can go up by 2%.  It is a misnomer that only Great Park's compound at 2% per year. The other areas can also increase. That is all subject to obviously whomever is responsible / has approval to pull them up.
 
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