As of January 1, 2005, sellers of real property must provide a
NOTICE OF SPECIAL TAX to disclose whether or not their property is in a Mello
Roos or a 1915 Bond Assessment District. A copy of the seller's tax bill or a
preliminary title report is no longer sufficient under the law.
A NOTICE OF SPECIAL TAX is included in the California Tax Disclosure Report.
This report is provided by California Tax Data, the recognized industry leader
in tax reporting. This report may be ordered in conjunction with the BPG Natural
Hazard Disclosure Report.
COMMUNITY FACILITIES AND ASSESSMENT DISTRICTS
Mello-Roos Community Facilities and 1915 Bond Act Assessment Districts issue
bonds that provide a method of financing certain public facilities and services.
Property owners in the Districts are responsible for payment of a "special tax".
Typically, the annual special tax continues until the bonds are repaid, or until
special taxes are no longer needed.
RESPONSIBILITIES OF OWNERS
Property owners in Districts are responsible for payment of the "special
tax". The amount of the "special tax" is not (directly) based on the value of
the property. Special taxes are based on mathematical formulas that take into
account property characteristics such as square footage of the home and parcel
size. The special tax is typically included in the annual County tax bill,
however it can also be paid off on a monthly basis.