Thread regarding Qualcomm Inc. layoffs

"However, a 2003 IRS chief counsel memorandum said, "Mello-Roos and other California assessments may be deductible as real property taxes, even though they are not imposed upon an 'ad valorem' basis."

*In December, the tax board wrote to the IRS asking it to clarify its position.

In a letter dated Feb. 6, an IRS associate chief counsel said the Internal Revenue code does not explicitly say real estate taxes must be ad valorem to be deductible. It says taxes that are not ad valorem could be deductible "if they are levied for the general public welfare by a proper taxing authority at a like rate on owners of all properties in the taxing authority's jurisdiction, and if the assessments are not for local benefits (unless for maintenance or interest charges)."*

It doesn't get much clearer than that....

Oh, and even IF Mello Roos isn't deductible (which it is), there's way's to get around it legally.

If you live in places like Santa Luz, 4S ranch, or parts of Poway that have MR, you can call the number on the back of the bill to see what the "early payoff amount" is...Then what you can do is cash-out refinance your house and take equity out to pay off your MR. The interest rate you pay on the money you borrowed to pay off of your MR is tax deductible just like the rest of your mortgage loan...And on top of that, the interest you pay for the cash-out refinance will be around 3.75% on a 30 year or 2.9% on a 15 year, which is much better than the 7-8% interest that you pay on the MR if you don't pay it off early...That's why there are a lot of long term home owners that end up paying of MR early via a lump sum, rather than make the monthly payments for MR each month. That's also why some houses in the MLS you see say "no mello roos", even though that area has MR. Some owners paid off the MR... For others like me that have neither MR or a mortgage, even better.

Hey moron. Check your facts.

MR and tax deductible. The IRS rules on this year's ago. And California follows IRS rules. This was the ruling back in 2012...

http://m.sfgate.com/business/networth/article/Calif-drops-property-tax-deduction-campaign-3486711.php

You are a fvcking moron talking about things you know nothing about. You must be one of the those low information, low education Trump voters. Enjoy renting.

Are there notable local cases of mello roos fraud? Where does the money go? Why not make a neighborhood grow house? Its for the children's education. 420 main St.