"Special Assessments $" ? HOW DO YOU ?

[bobsofi]

Special Assessments $

We have all seen it. We have all reported it. What do you report?

In the past I have only reported HOA Special Assessments.

My buddy reports the RE Tax Special Assessments (part of the total tax bill)

What do you exhibit as "Special Assessments $"

(A) HOA only ?
(B) Special Assessments portion of the total RE tax bill ?

I have not been doing as many reviews in recent years, but I do not recall ever seeing Special Assessments exhibited in an appraisal, as reported in the tax bill

 

[J Grant]

I would personally report only HOA as special assessment, anything u usual on taxes I would report separately .

 

[Meandering]

If you have a special assessment, either temporarily built into the RE tax or as a part of the HOA.

Special projects here would be additional assessment for putting sewers in place, or repairing dams, yada, yada, anything, that once the balance is paid, the monthly payments will be lowered or disappear.

That's what the bank needs as it assesses the holding costs of the property over the life of the loan.

.

 

[Randolph Kinney]

Special Assessments $

We have all seen it. We have all reported it. What do you report?

In the past I have only reported HOA Special Assessments.

My buddy reports the RE Tax Special Assessments (part of the total tax bill)

What do you exhibit as "Special Assessments $"

(A) HOA only ?
(B) Special Assessments portion of the total RE tax bill ?

I have not been doing as many reviews in recent years, but I do not recall ever seeing Special Assessments exhibited in an appraisal, as reported in the tax bill

Would this be Mello-Roos real estate tax, which is a Community Facilities District, to pay for public works and some public services?

These services may include streets, water, sewage and drainage, electricity, infrastructure, schools, parks and police protection to newly developing areas. The tax paid is used to make the payments of principal and interest on the bonds. While property tax is assessed as a percentage of the value of the home, Mello-Roos is independent, could rise or fall, and is not subject to Proposition 13.