Community Facilities District (CFD) No. 2 is a voter approved special taxing district which was originally formed under the Mello-Roos Act in 1997.
CFD No. 2 was formed to pay for the acquisition and/or construction of school facilities operated by the Del Mar Union School District, San Dieguito Union High School District, and Solana Beach School District. The CFD is authorized to issue special tax bonds in order to finance school facilities. The special taxes levied and collected are being used to pay the interest and principal that are due on outstanding bonds issued by the CFD.
The special tax was established when CFD No. 2 was formed and is determined pursuant to the CFD No. 2 Rate and Method of Apportionment (“RMA”).
Each fiscal year (a fiscal year is from July 1 – June 30), the special tax is calculated and placed on the County property tax bill. The annual special tax rate is a per parcel rate based on the square footage of the home classified as Developed Property. Developed Property means taxable property for which a residential building permit for new construction was issued on or before June 30 of the prior fiscal year.
For Developed Property the special tax does not increase and shall remain the same for the term of the special tax.
The annual special tax will be levied for a period of 30 years on each property after the final series of bonds were issued. The final series of bonds were issued in 1997; therefore, the final year of the special tax is the fiscal year 2026/2027.
For Developed Property, the RMA does not permit the prepayment of annual special taxes.
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