When purchasing your new home, your future monthly payments will be made up of principal, interest, real property taxes and insurance, and in some instances a tax for the Community Facilities District, otherwise known as a Mello-Roos District.
Mello-Roos District is an area where a special tax is imposed on those real property owners within a Community Facilities District. This district has chosen to seek public financing through the sale of bonds for the purpose of financing certain public improvements and services. These services may include streets, water, sewage and drainage, electricity, infrastructure, schools, parks and police protection to newly developing areas. The tax you pay is used to make the payments of principal and interest on the bonds.
Click here for more info about Mello-Roos and to look up details of bonds affecting a particular property.
General Info on Property Tax
Supplemental Tax Bills (see video below)
Property Tax Relief
Exclusions from Reappraisal
The State of California does offer relief from property tax reappraisal when selling your home. For those 55 or older, you may be able to transfer your base year value to the new home under Propositions 60/90. For those wanting to transfer property to a child or grandchild, they may be able to retain your lower property tax basis under Prop 58/193. Please review the information on the California State Board of Equalization website for more information.