Ron Esquivel, Home Buyer in Livermore, CA

Can someone please breakdown all the special assessment taxes that will be added to our monthly mortgage payment.?

Asked by Ron Esquivel, Livermore, CA Sat Apr 28, 2012

After numerous hours of research, my wife and I can't find a definite answer on what "special assessment" or "mellos Roos" taxes that will be added to the mortgage payments. I was told by someone to account for 4% of the total purchase price and that will cover all the extra taxes including property taxes. We are planning on purchasing a house from 300k to 350k with a FHA 3.5% down payment. What would our total monthly mortgage payment be?

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Ron,

Here is a link to our local website that you can go to specifically for the special assessment taxes that will give you a true total. http://mhcsd.com/taxcalculator

Please note that the special assessment taxes will be on your water bill not your tax bill so your monthly water bill will be higher than you are used to. Cindy was correct it is around 2%.

Being a resident of Mountain House this is one of the biggest shocks to new homeowners. Hope this gives you a little more information and welcome to Mountain House
0 votes Thank Flag Link Wed May 9, 2012
Thank you. I am assuming along with the base price of $125 + usage for the water bill and the special assessment total that I received from the website you provided me is ALL the taxes I will be paying. If I finally got this right, for an FHA loan in MH, I will be paying; base mortgage + PMI + home insurance + total if taxes I received from website / 12mo = FULL mortgage payment. Then add on the $125 + usage for the water bill and other utilities such as cable and what not.
Flag Wed May 9, 2012
With regard to your mortgage, it’s best to ask your lender. For taxes you should visit the San Joaquin County Tax Collectors website: http://www.sjgov.org/treasurer/ . Click on "Pay or View Your Taxes." The taxes rate and calculation information is available for you to view. Make sure to jot down and APN# of a home you’re interested in before visiting the website. Taxes according to California State Proposition 13 is 1% of your purchase price, plus assessment taxes. As you will see, these assessment taxes can rack-up. But, 4% is an over prediction for most locations in Northern California and is most likely hyperbole. However, it is important that you understand that assessment taxes are lower in some areas/cities and higher in others. Mountain House, Lathrop and Salida happen to have the highest tax rates, while Tracy, Manteca (non-Mello Roos Areas) and Ripon have lower assessment tax rates. In fact, there is so much of a difference you could actually purchase more home for the same monthly cost. This made the difference for my family in the 90's and we decided to purchase a larger home rather than pay all the extra fees for a smaller home.

Spend the time and check it out. It may be worth your effort.

I hope this helps make your decision more successful.

Best regards,

Rocky

Rocky G.H. Hawrysz
http://www.TeamHawrysz.com
Prudential California Realty
(209) 444-6610 - Office
(209) 915-6209 - Mobile

"Committed to your success!"
0 votes Thank Flag Link Sat Apr 28, 2012
Hi Ron,

The actual percentage of taxes for each house is going to be different, however it's going to be about 2% of the purchase price rather than 4%. As an example I pulled a property address from the MLS ; 308 W. Camarada Ct. in Mountain House listed at $315,000.00, (great house by the way)

Listed below is the breakdown of property taxes and assessments with the total at the bottom

00001 1 $1,565.00 $1,565.00 $3,130.00
PROP 13 MANDATE - This would be your regular property taxes which are about 1% of the purchase price

Here are the other assessments:
04561 0.0191 $29.89 $29.89 $59.78
SJ DELTA COLLEGE BOND 2004
04562 0.0009 $1.41 $1.41 $2.82
SJ DELTA COLLEGE BOND 2004B
04961 0.0072 $11.27 $11.27 $22.54
TRACY-LAMMERSVILLE SD BOND 2006
04962 0.0106 $16.59 $16.59 $33.18
TRACY-LAMMERSVILLE SD BOND 2006B
04963 0.0088 $13.77 $13.77 $27.54
TRACY-LAMMERSVILLE SD BOND 2006C
55180 0 $571.18 $571.18 $1,142.36
LAMMERSVILLE CFD 2002 (MR)
57101 0 $1.66 $1.66 $3.32
WATER INVESTIGATION DIST
63701 0 $0.59 $0.59 $1.18
SJC MOSQUITO ABATE
63702 0 $4.06 $4.06 $8.12
SJC MOSQ & VCTR CONTR-BEN ASMT
68601 0 $2.00 $2.00 $4.00
CSA NO 53 - HAZ WASTE
81860 0 $535.37 $535.37 $1,070.74
MTN HOUSE-ROAD & ADMIN
81880 0 $272.16 $272.16 $544.32
MTN HOUSE-PUB SAFETY
81900 0 $49.96 $49.96 $99.92
MTN HOUSE-PUBLIC WORKS
81920 0 $47.58 $47.58 $95.16
MTN HOUSE-PARKS & REC

The total taxes for this property are
$6244.98 for the year or about 2% of your total purchase price.

If you are looking for an agent, I would love to work with you. I am able to pull all this information for each house your interested in. You can reach me at 209-346-4580.

Warmest Regards,
Cindy Mello
0 votes Thank Flag Link Sat Apr 28, 2012
Wow, thank you so much. This is very helpful. Just to confirm, I will divide the $6,244.98 by 12 along with the PMI at $1951.75 and add both of those amounts to the base mortgage payment and I should get my approximate total mortgage payment?
Flag Sat Apr 28, 2012
Also, your mortgage payment is going to be dependent on a few factors, including your interest rate, however assuming your credit is good your looking at:
Interest rate of 4%
1% for PMI insurance
Payment of $1951.75 on a $315,000 purchase with 3.5% down.
Flag Sat Apr 28, 2012
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