Taxes
? 1% Property Taxes thanks to Proposition 13
? Voter Approved Bond Issues usually amounts to around .2%
? Mello - Roos = Special Assessment for New Infrastructure
Proposition 13 limited property taxes to 1%, plus any voter approved local bonds. Typically, taxes are around 1.2%, so it's easy to calculate. A $600,000 house would have taxes of $600 a month, for example.
Prop 13 did not provide enough revenue for cities to develop infrastructure for new areas. Two Democratic congressmen, Mello & Roos, figured out a way to pay for new roads, fire stations, parks, & schools. It's called the Community Facilities Act, but we just call it a Mello-Roos. Usually a 30 year bond, a MeIlo-Roos will show up on your tax bill in addition to the 1.2%.
Most new areas in Carlsbad, Carmel Valley, etc. will have a Mello-Roos. It varies with each area, but I've seen it range from $50 to $500 a month.
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A 600 K house in La jolla would pay 600 dollars a month in tax . So your trying to tell me that this McCain condo is worth under 200 k :scared :scared
Just paste stupid on Americans foreheads