MR at Cadence Park

[the.irvine]

What is MR at Cadence park?

 

[Burn That Belly]

x

 

[the.irvine]

According to sales lady, it was:

base tax rate (1.08%) + mello roos ~= 1.8 to 1.9%

They wouldn't give a fixed figure.

Figure $1M home, that's: $10,800 base rate plus $8000-9000 MR.

A bit ridiculous IMHO.

wow: almost 27-28K tax on a 1.4m SFH. I would rather rent same house for 4200 a month 

 

[Jantoven]

Is it only the Great Park's MR that increases by 2% annually?  I don't recall the rest of the Irvine communities having this "feature."

 

[Burn That Belly]

x

 

[Jantoven]

Is it only the Great Park's MR that increases by 2% annually?  I don't recall the rest of the Irvine communities having this "feature."

Yes. Only GR's MR increases annually. That's not the worse part of it all. GP's mello roos doesn't go away.

"The bonds must be paid back by 2049 through special taxes collected annually on property tax bills, according to a city staff report. Residents will continue to pay the taxes even after the bonds are paid off to help fund the operations and maintenance of the Great Park, city spokesman Craig Reem said."

I applaud folks living at GP. Must have real deep pockets and love throwing away money to our corrupt legislature/city council/slush fund.

Ouch.  Considering the 10k cap on SALT, that 2% compounding MR hurts even more now.

 

[Irvine Turtle]

Is it only the Great Park's MR that increases by 2% annually?  I don't recall the rest of the Irvine communities having this "feature."

Yes. Only GR's MR increases annually.

That is not correct.  OH Groves MR also increases 2% annually

 

[Jantoven]

Is it only the Great Park's MR that increases by 2% annually?  I don't recall the rest of the Irvine communities having this "feature."

Yes. Only GR's MR increases annually.

That is not correct.  OH Groves MR also increases 2% annually

Just the Groves side, not the rest of OH?  Interesting.

 

[Burn That Belly]

x

 

[Irvine Turtle]

Is it only the Great Park's MR that increases by 2% annually?  I don't recall the rest of the Irvine communities having this "feature."

Yes. Only GR's MR increases annually.

That is not correct.  OH Groves MR also increases 2% annually

Just the Groves side, not the rest of OH?  Interesting.

My guess is that other side of OH too and prob all new communities

 

[Burn That Belly]

x

 

[Burn That Belly]

x

 

[lnc]

Here's an example of the "new TIC neighborhood"

Yep. TIC property + IUSD school district = #WINNING!

2017-18
1915 AD BOND PH (866)807-6864 2,076.34
IRVINE USD CFD 09-1 (800)858-8233 1,077.55
IRVINE USD CFD NO. 86-1 (800)858-8233 622.45

2016-17
1915 AD BOND PH (866)807-6864 2,080.92
IRVINE USD CFD 09-1 (800)858-8233 1,077.55
IRVINE USD CFD 86-1 (800)858-8233 622.45

2015-16
1915 AD BOND PH (866)807-6864 2,071.78
IRVINE USD CFD 09-1 (800)858-8233 1,077.55
IRVINE USD CFD 86-1 (800)858-8233 622.45

The AD bond seems to bounce around but the CFD's (Mello-Roos) are fixed.

BTW, that CFD 86-1 expires at the end of 2020. 

 

[irvinehomeowner]

Is there a site to tell you what the Irvine USD CFDs go to specifically?

$1700 is cheap compared to GP's IUSD CFD:

IRVINE USD-ASMT (866)807-6864 61.09
IRVINE CFD 2013-3 (949)955-1500 7,505.58

Almost 4x the amount!

 

[Burn That Belly]

x

 

[Perspective]

I don't think the Orchard Hills IUSD zone mello roos taxes increase. The advertised total property tax effective rate during sales was ~1.4%*. There are many threads here where we discussed how other new villages' mello roos was not only double Orchard Hills, but also subject to annual increases.

*Considering appreciation over the last 2-3 years, and fixed mello roos costs, the total property tax effective rate is much less than 1.4% today.

 

[paydawg]

Here's an example of the "new TIC neighborhood"

Yep. TIC property + IUSD school district = #WINNING!

2017-18
1915 AD BOND PH (866)807-6864 2,076.34
IRVINE USD CFD 09-1 (800)858-8233 1,077.55
IRVINE USD CFD NO. 86-1 (800)858-8233 622.45

2016-17
1915 AD BOND PH (866)807-6864 2,080.92
IRVINE USD CFD 09-1 (800)858-8233 1,077.55
IRVINE USD CFD 86-1 (800)858-8233 622.45

2015-16
1915 AD BOND PH (866)807-6864 2,071.78
IRVINE USD CFD 09-1 (800)858-8233 1,077.55
IRVINE USD CFD 86-1 (800)858-8233 622.45

The AD bond seems to bounce around but the CFD's (Mello-Roos) are fixed.

BTW, that CFD 86-1 expires at the end of 2020. 

OMG. Forgot about that. Double #WINNING!!

where are you seeing the CFD 86-1 expiring in 2020?  I'm seeing a Sunset Date of 'unavailable'. 

 

[Burn That Belly]

x

 

[Burn That Belly]

x

 

[irvinehomeowner]

Official guide:http://www.treasurer.ca.gov/cdiac/reports/M-Roos/2012.pdf

Thanks.

Latest one I could find was 2015-2016:
http://www.treasurer.ca.gov/cdiac/reports/m-roos/2016.pdf

$1700 is cheap compared to GP's IUSD CFD:

IRVINE USD-ASMT (866)807-6864 61.09
IRVINE CFD 2013-3 (949)955-1500 7,505.58

Almost 4x the amount!

I made a mistake, the $7500 is not for IUSD, that's just the general Irvine MR for the Great Park. It's interesting that the IUSD one is very small compared to others... so why are MRs for Portola High and Beacon Park K-8 so low compared to others?