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Mello-Roos property tax California 0

Posted on 11, September 2013

in Category Communities, Home, Investment Real Estate, Loans, Mortgage, News, Qualifying, Real Estate

California Mello-Roos Property Tax Mello-Roos was signed into law in 1982 as a way to gain funding for new communities after Proposition 13 inhibited the raising of property taxes in California.  Though it isn’t technically a property tax, it is an additional tax that is applied to properties in newly developed areas.  The money is used to build the necessary facilities, utilities, roads, and the like for new towns.  This keeps the cost of development for the new town on the shoulders of the persons living there. Because Mello-Roos is independent of the property tax that is protected by Prop [&hellip

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3 Costly Mistakes Real Estate Investor Make 0

Posted on 21, June 2013

in Category Investment Real Estate, News, Real Estate

3 Costly Mistakes Real Estate Investor Make   Mistake #1: Not Understanding What Makes Real Estate Expenses Deductible  If the property you purchase is to be used as your primary residence (or your home), then your deductions are limited to mortgage interest (subject to limitations), property taxes, points, and mortgage insurance protection (temporary law). If you were to buy another house without renting it out, you may be able to treat it as a second home.  The deductions for a second home are limited to mortgage interest (subject to limitations) and property taxes. Mistake #2: Buying a Rental for Tax [&hellip

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