TaxType: Mello-Roos Community Facilities District

Summary:
Community Facilities District No. 6, Improvement Area A was established pursuant to the Mello-Roos Community Facilities Act of 1982. Qualified electors authorized the district in 2002 along with the issuance of up to $18,000,000.00 in bonded indebtedness. Bonds were issued to pay for certain public facilities and/or services that benefit the district. A special tax is levied on properties in the district to pay the interest and principal on the bonds as well as administrative expenses.


Facilities:
Proceeds from the sale of Bonds and the special taxes collected will be used to finance non-school facilities and school facilities. Non-school facilities to be funded by IA of CFD No. 6 include (i) water and sewer facilities to be owned by the Olivenhain Municipal Water District, (ii) road, park, and library improvements to be owned by the County of San Diego, (iii) road improvement to be owned by the City of San Diego, and (iv) one (1) fire station to be owned by the Rancho Santa Fe Fire Protection District. IA A of CFD No. 6 is also authorized to fund elementary school, middle school, high school, administrative, and additional school facilities.


Services:
None


Calculation:
Each fiscal year, the School District calculates the special tax to be levied against taxable property within IA A of CFD No. 6 based on the provisions of the Rate and Method of Apportionment adopted during the formation of IA A of CFD No. 6. The Rate and Method of Apportionment defines two (2) categories of taxable property, "Developed Property" and "Undeveloped Property". Developed Property is in turn divided into ten (10) tax classes, which vary with Unit type (e.g. Attached Units, Detached Unit) and building square footage.


Increases:
Each July 1, commencing July 1, 2003 the Assigned Annual Special Tax applicable to an Assessor's Parcel of Developed Property shall be increased by 2.00% of the amount in effect in the prior Fiscal Year. .


How Long:
The special tax shall be levied for a period of twenty-five (25) fiscal years after issuance of bonds, but in any case not after fiscal year 2040-41.