4S Mello-Roos will take 30 more years (2040) to payoff

[all]

[quote=fragile]To find out the MR in Del Sur (or other area of interest), you can follow this link:

http://californiataxdata.us
[/quote]

That website is for PUSD only. Won’t work for SEH.

[Anonymous]

For fun, I read through some of the CFD #14 IAA disclosures for Del Sur. Buildout sure looks a long way off of the projected dates that went by awhile ago. The resort hotel and championship golf course plans listed were more recently scrapped. I wonder how all this affects the issuance of the bonds for the unfinished phases.

I couldn’t help but laugh at the portion mentioning that most buyers at the time (2006) were using creative financing means and that there might be risk in this.

DDT, toxaphene and old military ordinance as far as 6 feet down (some is inert practice stuff) were listed.

Hm.

[Anonymous]

For fun, I read through some of the CFD #14 IAA disclosures for Del Sur. Buildout sure looks a long way off of the projected dates that went by awhile ago. The resort hotel and championship golf course plans listed were more recently scrapped. I wonder how all this affects the issuance of the bonds for the unfinished phases.

I couldn’t help but laugh at the portion mentioning that most buyers at the time (2006) were using creative financing means and that there might be risk in this.

DDT, toxaphene and old military ordinance as far as 6 feet down (some is inert practice stuff) were listed.

Hm.

[Anonymous]

For fun, I read through some of the CFD #14 IAA disclosures for Del Sur. Buildout sure looks a long way off of the projected dates that went by awhile ago. The resort hotel and championship golf course plans listed were more recently scrapped. I wonder how all this affects the issuance of the bonds for the unfinished phases.

I couldn’t help but laugh at the portion mentioning that most buyers at the time (2006) were using creative financing means and that there might be risk in this.

DDT, toxaphene and old military ordinance as far as 6 feet down (some is inert practice stuff) were listed.

Hm.

[Anonymous]

For fun, I read through some of the CFD #14 IAA disclosures for Del Sur. Buildout sure looks a long way off of the projected dates that went by awhile ago. The resort hotel and championship golf course plans listed were more recently scrapped. I wonder how all this affects the issuance of the bonds for the unfinished phases.

I couldn’t help but laugh at the portion mentioning that most buyers at the time (2006) were using creative financing means and that there might be risk in this.

DDT, toxaphene and old military ordinance as far as 6 feet down (some is inert practice stuff) were listed.

Hm.

[Anonymous]

For fun, I read through some of the CFD #14 IAA disclosures for Del Sur. Buildout sure looks a long way off of the projected dates that went by awhile ago. The resort hotel and championship golf course plans listed were more recently scrapped. I wonder how all this affects the issuance of the bonds for the unfinished phases.

I couldn’t help but laugh at the portion mentioning that most buyers at the time (2006) were using creative financing means and that there might be risk in this.

DDT, toxaphene and old military ordinance as far as 6 feet down (some is inert practice stuff) were listed.

Hm.

[Aecetia]

“Furthermore, I believe majority of people are claiming MR as property tax, to be deducted from their income, knowing full well that they’re not supposed to do that. If ever audited by the IRS….”

Eventually someone will be audited and the IRS will realize what a windfall this is with back penalties due, etc. It would be easy to threaten the person audited with criminal prosecution for fraud. It could be really ugly.

[Aecetia]

“Furthermore, I believe majority of people are claiming MR as property tax, to be deducted from their income, knowing full well that they’re not supposed to do that. If ever audited by the IRS….”

Eventually someone will be audited and the IRS will realize what a windfall this is with back penalties due, etc. It would be easy to threaten the person audited with criminal prosecution for fraud. It could be really ugly.

[Aecetia]

“Furthermore, I believe majority of people are claiming MR as property tax, to be deducted from their income, knowing full well that they’re not supposed to do that. If ever audited by the IRS….”

Eventually someone will be audited and the IRS will realize what a windfall this is with back penalties due, etc. It would be easy to threaten the person audited with criminal prosecution for fraud. It could be really ugly.

[Aecetia]

“Furthermore, I believe majority of people are claiming MR as property tax, to be deducted from their income, knowing full well that they’re not supposed to do that. If ever audited by the IRS….”

Eventually someone will be audited and the IRS will realize what a windfall this is with back penalties due, etc. It would be easy to threaten the person audited with criminal prosecution for fraud. It could be really ugly.

[Aecetia]

“Furthermore, I believe majority of people are claiming MR as property tax, to be deducted from their income, knowing full well that they’re not supposed to do that. If ever audited by the IRS….”

Eventually someone will be audited and the IRS will realize what a windfall this is with back penalties due, etc. It would be easy to threaten the person audited with criminal prosecution for fraud. It could be really ugly.

[temeculaguy]

The irs wont bother with it, they really could care less because the dollar amount isn’t worth the labor costs. If someone has 1k a year of mello roos and 80% of it is deductable, yet they deduct the whole thing, then they deducted 200 that they shouldn’t have. It was not malicious, their bill would be a whole $50 to the irs, yet it cost the irs a grand in labor to deal with it, just not worth it. Same goes for your vehicle registration, you are supposed to subtract the non value based portion and deduct only the remainder, most people just deduct the dollar amount they see on their vehicle registration card in their glove box and the irs doesn’t really care.

Plus there are more people inflating their charity deduction than the mello roos folks.

They will likely just change the tax code to allow mello roos as a deduction, since it basically is treated that way now. They already changed the code to allow the deduction of PMI.

Mello roos sucks, but if you are a buyer of resale property, you can factor the payment, then figure the dollar cost and reduce your offer by that amount. If you have to pay the same amount for a mello roos house vs a non mello roos house, the go with the non, but if there is a discount because of it, if that discount makes the two houses cost the same as far as the monthly payment, then live where you want to live.

[temeculaguy]

The irs wont bother with it, they really could care less because the dollar amount isn’t worth the labor costs. If someone has 1k a year of mello roos and 80% of it is deductable, yet they deduct the whole thing, then they deducted 200 that they shouldn’t have. It was not malicious, their bill would be a whole $50 to the irs, yet it cost the irs a grand in labor to deal with it, just not worth it. Same goes for your vehicle registration, you are supposed to subtract the non value based portion and deduct only the remainder, most people just deduct the dollar amount they see on their vehicle registration card in their glove box and the irs doesn’t really care.

Plus there are more people inflating their charity deduction than the mello roos folks.

They will likely just change the tax code to allow mello roos as a deduction, since it basically is treated that way now. They already changed the code to allow the deduction of PMI.

Mello roos sucks, but if you are a buyer of resale property, you can factor the payment, then figure the dollar cost and reduce your offer by that amount. If you have to pay the same amount for a mello roos house vs a non mello roos house, the go with the non, but if there is a discount because of it, if that discount makes the two houses cost the same as far as the monthly payment, then live where you want to live.

[temeculaguy]

The irs wont bother with it, they really could care less because the dollar amount isn’t worth the labor costs. If someone has 1k a year of mello roos and 80% of it is deductable, yet they deduct the whole thing, then they deducted 200 that they shouldn’t have. It was not malicious, their bill would be a whole $50 to the irs, yet it cost the irs a grand in labor to deal with it, just not worth it. Same goes for your vehicle registration, you are supposed to subtract the non value based portion and deduct only the remainder, most people just deduct the dollar amount they see on their vehicle registration card in their glove box and the irs doesn’t really care.

Plus there are more people inflating their charity deduction than the mello roos folks.

They will likely just change the tax code to allow mello roos as a deduction, since it basically is treated that way now. They already changed the code to allow the deduction of PMI.

Mello roos sucks, but if you are a buyer of resale property, you can factor the payment, then figure the dollar cost and reduce your offer by that amount. If you have to pay the same amount for a mello roos house vs a non mello roos house, the go with the non, but if there is a discount because of it, if that discount makes the two houses cost the same as far as the monthly payment, then live where you want to live.

[temeculaguy]

The irs wont bother with it, they really could care less because the dollar amount isn’t worth the labor costs. If someone has 1k a year of mello roos and 80% of it is deductable, yet they deduct the whole thing, then they deducted 200 that they shouldn’t have. It was not malicious, their bill would be a whole $50 to the irs, yet it cost the irs a grand in labor to deal with it, just not worth it. Same goes for your vehicle registration, you are supposed to subtract the non value based portion and deduct only the remainder, most people just deduct the dollar amount they see on their vehicle registration card in their glove box and the irs doesn’t really care.

Plus there are more people inflating their charity deduction than the mello roos folks.

They will likely just change the tax code to allow mello roos as a deduction, since it basically is treated that way now. They already changed the code to allow the deduction of PMI.

Mello roos sucks, but if you are a buyer of resale property, you can factor the payment, then figure the dollar cost and reduce your offer by that amount. If you have to pay the same amount for a mello roos house vs a non mello roos house, the go with the non, but if there is a discount because of it, if that discount makes the two houses cost the same as far as the monthly payment, then live where you want to live.

[Author]

Posts