EstatePass
Practice Of Real Estate DisclosuresMello_roos_and_special_taxesMEDIUM

A property in a California Mello-Roos district has a base Proposition 13 property tax of 1% on its assessed value of $600,000, plus a Mello-Roos special tax of $3,200 per year. What is the total annual property tax bill for this property?

Correct Answer

A) $9,200

The base Proposition 13 tax is 1% × $600,000 = $6,000. Adding the Mello-Roos special tax of $3,200 gives a total of $6,000 + $3,200 = $9,200 per year. The Mello-Roos tax is added on top of the standard property tax.

Answer Options
A
$9,200
B
$6,000
C
$6,320
D
$3,200

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Practice Of Real Estate Disclosures Question

Sign up free to unlock full analysis

Background Knowledge for Practice Of Real Estate Disclosures

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Practice Of Real Estate Disclosures

Sign up free to unlock full analysis

Common Mistakes to Avoid on Practice Of Real Estate Disclosures Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

mello_roosproperty_taxcalculationproposition_13Gov_Code_53340

Related Concepts

A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.

An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.

Asbestos disclosure involves informing buyers about the presence of asbestos-containing materials (ACMs) in a property. Asbestos was commonly used in construction materials before 1980 and poses health risks when fibers become airborne.

Was this explanation helpful?

More Practice Of Real Estate Disclosures Questions

People Also Study

Related Articles

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing