What is a 1915 Act Bond?

1915 Act bonds are commonly issued by an assessment district to raise money needed to build infrastructure (sewer trunkline, utility line, roads, etc.). The properties that directly benefit from the improvements are then assessed an annual amount on the property tax bill. Normally this will be listed as an Assessment District or Assessment Bond line item on your tax bill. It is important to note that the assessments are secured by a lien on your property, and the district has the right of accelerated foreclosure if assessments are not paid when due.

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1. What are the important tax bill dates?
2. What are all of these charges on my property tax bill?
3. What if I don’t agree with the assessed valuation of my property?
4. How do property taxes affect the value and marketability of my home?
5. What is Mello-Roos and why do I have to pay it?
6. Can a Mello-Roos district foreclose on my home?
7. Is my property subject to 180 day accelerated foreclosure?
8. Why do I have to give a buyer a Notice of Special Tax when I sell my property?
9. What is a 1915 Act Bond?
10. How are tax rates determined?
11. Is there any way I can reduce the amount of property taxes I pay?
12. What is a Homeowner’s Exemption?
13. Why did I receive a supplementary tax bill after purchasing my new home?
14. Will I receive a tax bill if I pay taxes through an impound account?
15. What are the consequences if I fail to make a timely property tax payment?