TaxType: Mello-Roos Community Facilities District

Summary:
Community Facilities District No. 4 was established pursuant to the Mello-Roos Community Facilities Act of 1982. Qualified electors authorized the district in 2000 to pay for certain facilities and/or services that benefit the district. A special tax is levied on properties in the district to pay the cost of facilities and/or services as well as administrative expenses.


Facilities:
The authorized facilities which are being paid for by the special taxes, and by the money received from the sales of bonds which are being repaid by the special taxes are: fund elementary school, middle school and high school facilities along with central administrative/support facilities and interim student housing of benefit to the properties within its boundaries.


Services:
None


Calculation:
Each fiscal year, the School District calculates the special tax to be levied against taxable property within CFD No. 4 based on the provisions of the Rate and Method of Apportionment adopted during the formation of CFD No. 4. The Rate and Method of Apportionment defines four (4) categories of taxable property, "Developed Property", "Improved Property", "Golf Course Property" and "Undeveloped Property". Developed Property is in turn divided into seventeen (17) separate rate classifications which vary with unit type (e.g., Production Units, Custom Units, Assigned Units, Excess Companion Units, Excess Affordable Units and Senior Units) and building square footage.


Increases:
Each fiscal year following the fiscal year a parcel is first taxed as Developed Property, the special tax rate applicable to such parcel shall be escalated in an amount equal to two percent (2%) per year, provided that no such increase shall occur more than fifteen (15) fiscal years after the issuance of the last series of CFD bonds, and in no event shall any such increase occur after fiscal year 2030-31..


How Long:
The special tax will be levied each year until all of the authorized facilities are built and all special tax bonds are repaid, but in any case not after the 2045-2046 tax year.