Author Topic: Building Wealth One House at a Time.  (Read 99138 times)

Offline eyephone

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Re: Building Wealth One House at a Time.
« on: June 10, 2018, 06:49:05 PM »
It doesn’t really matter. There’s a $10k SALT limit.

Thanks for teaching me something new as I thought that MR was calculated by the % of the property price vs a fixed bond amount. When I was looking to buy a Manzanita home in Portola Springs between 2009 - 2010, I remember that the property tax + MR was right at 1.8 - 1.9% of the purchase price. Are you allowed to write off your MR taxes just like you would with your property taxes?

MR is a fixed bond amount and not a % of the property price.  It should really be calculated separated from property tax as the "effective tax rate" will vary depending on your purchase price.  The MR for Casalon tract was $2078.  For the later phases, this would translate into an effective property tax rate of 1.4%.  As the homes appreciate and the MR bonds get paid off, the ROI starts to look much better.

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