Mello Roos Deductibility Update
Isn't this just ducky? Just in time for tax filing (not).
In an interpretive about-face, it would appear that people blessed with a Mello Roos assessment may now continue to claim those payments as deductions on their taxes, according to the California State Franchise Tax Board. And by "people," I mean me.
According to the San Francisco Chronicle:
On the eve of tax-filing deadline, the Franchise Tax Board abandoned its campaign to get California property owners not to deduct a portion of their real estate taxes.
From the Golden State's website:
At this time, we do not plan to add additional reporting requirements related to the real estate tax deduction beginning with the 2012 tax return.
That's good news, of course, but there are a whole bunch of us who would have appreciated getting the memo before the eve of the deadline — before we filed our returns on time like good little citizens.
As always, consult your tax advisor, because I am not one of those guys.
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