TaxType: Mello-Roos Community Facilities District

Summary:
Community Facilities District No. 11, Zone 1 was established pursuant to the Mello-Roos Community Facilities Act of 1982. Qualified electors authorized the district in 2004 along with the issuance of up to $60,000,000.00 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 elementary school, middle school and high school facilities along with central administrative/support facilities and interim student housing of benefit to the property 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. 11 based on the provisions of the Rate and Method of Apportionment adopted during the formation of CFD No. 11. 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 eight (8) separate rate classifications which vary with unit type and (e.g. Attached Unit/Detached Unit and Assigned Unit) and location.


Increases:
Each July 1, commencing July 1, 2005, the Assigned Annual Special Tax applicable to an Assessor's Parcel of Developed Property in each Zone 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 thirty (30) fiscal years after issuance of bonds, but in any case not after fiscal year 2050-51.