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#2012-3 : Bill seeks to make Mello-Roos deductible

Friday, January 27, 2012

Assembly member Jim Silva (R-Huntington Beach) introduced AB 1552, which, if passed, would codify Mello-Roos fees as tax deductible for California purposes. Whether certain portions of Mello-Roos fees are tax deductible for federal purposes remains uncertain.

If enacted, the bill would be effective for taxable years beginning on or after January 1, 2012. It would severely reduce the amount of revenue generated as part of the FTB’s plan to require parcel numbers and a computation of the nondeductible portion of property tax on 2012 personal tax returns.

For more information on Mello-Roos, order Spidell's 2011/2012 Federal and California Tax Update self-study course. Click here to purchase.

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