Temecula Property Taxes and Special Assessments - What You Need to Know!!!

By
Real Estate Agent with Realty ONE Group

Temecula Property Taxes and Special Assessments - What You Need To Know!!!


A while back I wrote a blog on Temecula property taxes and special assessments that would be very good for you to go back and read if you are unfamiliar with property taxes. It will explain how the property taxes and special assessments work and how to understand them in relating to purchasing you home. Here is the link http://www.trulia.com/blog/dianne_hicks/2009/07/buyer_beware_know_the_pr

In the special assessments there are always items in there that are repeated cost that do not go away and can be adjusted when the city needs to adjust to cost. In Temecula trash pick up is there but in Murrieta you are billed separately for the trash. And there are other like items for running the city.

Well.... In additon to this there are the home builders bonds that are for a specific time frame anywhere from 10 - 35 years that are under the special assessments. Starting in about 2003 they really started to adding bigger bonds to all the new homes. Why would the builder pay from then when the buyer would pay for them.

Here is why you need to call on the bonds (in the special assessments) and find when they expire. I called on the 3 bonds (yes, there are often more than 1) in Harveston to find out when the bonds expire. For this one house, the biggest one (about $900 a year) does not ever expire. Now... I loooove Harveston, it is a gorgeous community and I would consider living there, but I think being informed before you buy a home in key in making the decision that is right for you. That means on top of the HOA's of about $130, you have about another $100 a month they is tied to Harveston that does not go away. As long as you are aware of this and you want to buy, it is all good. What makes me sad to see is when home buyers are not aware when they buy.
 
So Please do your homework and pick a Realtor that will help you understand and provide you with the current information so you can understand property taxes and special assessments, it will help making the decision that is best for YOU!!! 

 The Grapevine for Temecula Valley 
California Dreaming.... MAKE IT HAPPEN!!!

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Dianne Hicks ​

Realtor Lic # 01858415 ​

Realty One Group 

(951) 514-5709 

email: di4homes@gmail.com 

 


Comments (1)

Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

All those little monthly fees can certainly add up if one is not careful.

Feb 24, 2010 09:13 PM