26 replies to this topic

[intelgeek]

Hi guys
I was looking at a house in the empire ranch (Chelsea) neighborhood. I was told that there is a bond/melo roos of about $1400/yr. I have heard that the property tax rate for Sacramento county is 1.25%. Now does that mean that I will pay the property tax of 1.25% and then pay another $1400/yr on top of that?

For a $400k home; thats almost $6400/yr. YIKES!!! Do I have my math right??

Thanks guy!

[realtor]

Hi guys
I was looking at a house in the empire ranch (Chelsea) neighborhood. I was told that there is a bond/melo roos of about $1400/yr. I have heard that the property tax rate for Sacramento county is 1.25%. Now does that mean that I will pay the property tax of 1.25% and then pay another $1400/yr on top of that?

For a $400k home; thats almost $6400/yr. YIKES!!! Do I have my math right??

Thanks guy!

The 1.25% includes the mello roos. The tax rate for Sac Co is 1.1%
Welcome to Folsom.

[Steve Heard]

Hi guys
I was looking at a house in the empire ranch (Chelsea) neighborhood. I was told that there is a bond/melo roos of about $1400/yr. I have heard that the property tax rate for Sacramento county is 1.25%. Now does that mean that I will pay the property tax of 1.25% and then pay another $1400/yr on top of that?

For a $400k home; thats almost $6400/yr. YIKES!!! Do I have my math right??

Thanks guy!

The tax rate for Sac county is 1%. When advising folks who are shopping for a home in Folsom, I advise them that with Landscape and Lighting, Mello Roos and other possible bonds, assessements, levees, and fees, to figure on 1.25%. For a $400,000 home, that would add up to $5000 per year. All taxes and assessments are public record, so it is easy to find out.

From the Sac Co. Assessor's Office:
"Under Proposition 13, the property tax rate is fixed at 1% of assessed value plus any assessment bonds or fees approved by popular vote. As a result of various assessment bonds in addition to the 1% rate, property tax rates in Sacramento County average roughly 1.1% countywide.

Special Assessments & Direct Levies:
Annual tax bills may also include other items such as special assessments, special taxes, direct levies, delinquent county utility billings, weed and hazard abatement charges, and Mello-Roos Bonds. None of these items are defined as property taxes under the law because they are not based upon the assessed value of the property.

[intelgeek]

The 1.25% includes the mello roos. The tax rate for Sac Co is 1.1%
Welcome to Folsom.

Ok.. is the 1.1% standard for everyone in folsom? Basically; does it mean that everyone pays 1.1% property tax in folsom plus whatever bonds they have?

[realtor]

Ok.. is the 1.1% standard for everyone in folsom? Basically; does it mean that everyone pays 1.1% property tax in folsom plus whatever bonds they have?

Everyone after Prop 13 which was 1978. Most of the homes built after around 1986 have mello roos but there are subdivisions that do not have them. And some of the older homes are starting to see the bonds paid off. Be grateful you don't have that and HOA's...or do you?

[jagayman]

Mello Roos is based on the development. You are paying off a bond the developer secured for improvements. For California Hills, this was about 1% on top of the county's tax of 1% -- about $3500 a year for my $190k house. There was a lot of lead removal from the hillside (it used to be the Orangevale Gun Club) and I expect that was a good chunk of the costs as well as the substantial grading for the neighborhood.

Jason

[intelgeek]

Thanks a lot for your help guys. I was getting a little worried figuring 1.25% property tax + $1400 bonds/yr for Chelsea development. At least this way its about $600/yr less on a $400k home.

Btw; ER does have HOA.. but its 'only' about $30/month.

[intelgeek]

Hi guys
I was looking at a house in the empire ranch (Chelsea) neighborhood. I was told that there is a bond/melo roos of about $1400/yr. I have heard that the property tax rate for Sacramento county is 1.25%. Now does that mean that I will pay the property tax of 1.25% and then pay another $1400/yr on top of that?

For a $400k home; thats almost $6400/yr. YIKES!!! Do I have my math right??

Thanks guy!

I hate to ask this question again; but I keep getting conflicting answers from people I speak with. So the 1.25% DOES contain $1400/yr meloo roos? Can someone living in ER confirm?

[tgianco]

I hate to ask this question again; but I keep getting conflicting answers from people I speak with. So the 1.25% DOES contain $1400/yr meloo roos? Can someone living in ER confirm?

I wouldn't think it would. I pay $150 a month for Mello Roos, on top of property taxes. Each neighborhood is different, though, so I would check w/ your realtor or a loan officer, if you have one. That is something you want to know for sure before signing any offer.

Good luck. It shouldn't be too hard to find.

[Dustyzz]

I hate to ask this question again; but I keep getting conflicting answers from people I speak with. So the 1.25% DOES contain $1400/yr meloo roos? Can someone living in ER confirm?

I live in Empire Ranch (Renaissance Foothills)and can state as fact the Mello Roos is NOT part of the 1.25%. It is an additional amount added to your yearly tax bill.

/dusty

[intelgeek]

Ouch.. that sucks!. Oh well; atleast its a tax writeoff..

[Terry]

Mello Roos is based on the development. You are paying off a bond the developer secured for improvements. For California Hills, this was about 1% on top of the county's tax of 1% -- about $3500 a year for my $190k house. There was a lot of lead removal from the hillside (it used to be the Orangevale Gun Club) and I expect that was a good chunk of the costs as well as the substantial grading for the neighborhood.

Jason

You mean the Folsom Gun Club, don't you? California Hills property was part of the old Folsom Gun Club.

[DrKoz23]

I live in Empire Ranch (Renaissance Foothills)and can state as fact the Mello Roos is NOT part of the 1.25%. It is an additional amount added to your yearly tax bill.

/dusty

I'll second this response.

[jagayman]

You mean the Folsom Gun Club, don't you? California Hills property was part of the old Folsom Gun Club.

As odd as it seems, Orangevale had a gun club in Folsom:
http://www.city-data...California.html
http://www.satellite...mp;ftype=locale

However, Folsom Gun Club comes up with the same location. Anyone have the skinny on the two clubs?

Thanks,
Jason

[Steve Heard]

I live in Empire Ranch (Renaissance Foothills)and can state as fact the Mello Roos is NOT part of the 1.25%. It is an additional amount added to your yearly tax bill.

/dusty

Here's my understanding of the situation:

Once again, there is no 1.25% property tax. The tax for Sacramento county is 1%. Period.
Mello Roos, Landscape and Lighting, Community Facilities, school and other possible bonds and assessments are paid along with your property taxes on your tax bill, which leads some to believe that it is part of their taxes. It is not, but it is collected with your taxes. Because of this, when people are shopping for homes, us realtors and mortgage consultants often tell people that to be safe, figure on about another 1/4 percent to go to these bonds and assessments.

By law, property taxes are fixed at 1%.

From the city of Folsom Charter: "The city avails itself of the provisions of Article 1, Chapter 2, Part 2, Division 1, Title 5, of the Government Code, for the levy and collection of the taxes of the city by the county, and the city requests the county to assess, levy and collect the municipal taxes of the city. (Prior code § 1300)"

The city may have some administration duties with these bonds and assessments, but they do not levy them and they do not go to the city coffers.

From the Sac Co. Assessor's Office:
"Under Proposition 13, the property tax rate is fixed at 1% of assessed value plus any assessment bonds or fees approved by popular vote. As a result of various assessment bonds in addition to the 1% rate, property tax rates in Sacramento County average roughly 1.1% countywide."

Remember that because of bonds and assessments, and because they are paid with taxes, we recommend buyers allow for 1.25%, when figuring out what they have to send the tax man. Here we see that the assessor says the average is 1.1%

The city doesn't even administer these funds any more. From the city website:
"The City of Folsom has contracted with NBS Government Finance Group to administer the Mello-Roos and special assessment districts within the City. 1-800-676-7516 is the toll free number provided by NBS for your convenience in answering your questions."

Mello Roos varies from subdivision to subdivision, and can vary within subdivisions, too. Some are based on the size of the lot the home sits on. You will be assessed differently depending on whether you fit into the small, medium or large lot category.

It also depends on when the bond was taken out or established. More recent ones are higher than older ones.

If you have a specific property in mind, however, we can put this whole argument to rest by going to the assesor's websites and put in the property's APN (assessor's parcel number), and it will instantly provide you with data on all taxes, bonds and assessments. http://www.eproptax.saccounty.net/

If you don't know the APN number, your realtor, mortgage consultant or title agent can get it for you.

Feel free to contact me for that info. It is public record.