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Old 12-16-2018, 07:16 PM
 
661 posts, read 841,126 times
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Mello roos is not really even the proper term to use anymore, its mostly special assessments (bonds) against the property that pay for roads, sewers, parks schools etc.

As home prices in CA went higher and higher builders thought of a scheme to build those costs into bonds to make the home prices seem less than they really area. So they thought up bonds that you pay for 20-30 years, you have a tax base of say 1.2% then add the special assessments (or mello-roos) that now makes your tax base 2.0% for the next 20-30 years.

Quote:
Originally Posted by usklx View Post
Too lazy to Google but what is Mello roos?
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Old 12-18-2018, 01:22 PM
 
Location: OC
12,926 posts, read 9,710,466 times
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Quote:
Originally Posted by usklx View Post
Too lazy to Google but what is Mello roos?
I'm with you. I thought it was a drug cocktail.
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Old 12-20-2018, 02:03 PM
 
65 posts, read 103,912 times
Reputation: 78
Quote:
Originally Posted by forzalugano View Post
Mello roos is not really even the proper term to use anymore, its mostly special assessments (bonds) against the property that pay for roads, sewers, parks schools etc.

As home prices in CA went higher and higher builders thought of a scheme to build those costs into bonds to make the home prices seem less than they really area. So they thought up bonds that you pay for 20-30 years, you have a tax base of say 1.2% then add the special assessments (or mello-roos) that now makes your tax base 2.0% for the next 20-30 years.
Thanks! So how or when are these taxes paid and is that why housing seems affordable in the Temecula arrea? Also, how would I find out if a property has said fax?
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Old 12-20-2018, 02:59 PM
 
Location: Murrieta California
3,038 posts, read 4,792,513 times
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Quote:
Originally Posted by usklx View Post
Thanks! So how or when are these taxes paid and is that why housing seems affordable in the Temecula arrea? Also, how would I find out if a property has said fax?
Typically the listing will state low taxes if there is no Mello Roos or similar fees. Housing is more affordable here because it is inland and not an easy commute to San Diego, Los Angeles, or Orange County. Taxes have nothing to do with it as the property tax and Mello Roos etc. are the same anywhere in California. Some developments have Mello Roos and some do not. It is more prevalent here than most areas because this area is newer. The population of Murrieta increased from 1,626 in 1990 to 114,000 today. This required a lot of new infrastructure to be built.

Having said that, you can find homes with low taxes here. We bought our home brand new in a beautiful neighborhood in 2002. We don't pay any Mello Roos. In fact we have owned 6 brand new homes in California and have never paid Mello Roos. My tax rate is 1.12%.
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Old 12-20-2018, 07:32 PM
 
65 posts, read 103,912 times
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Wow! New homes, I like the sound of that! Thanks for your input!
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Old 12-26-2018, 08:10 AM
 
Location: Business ethics is an oxymoron.
2,347 posts, read 3,351,309 times
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Semantics aside, Mello-Roos is, for all intents and purposes, an end-run around the caps of Prop 13 and in any sense of the word, simply means you pay double the property tax.
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Old 12-26-2018, 09:22 AM
 
Location: Murrieta California
3,038 posts, read 4,792,513 times
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Quote:
Originally Posted by Des-Lab View Post
Semantics aside, Mello-Roos is, for all intents and purposes, an end-run around the caps of Prop 13 and in any sense of the word, simply means you pay double the property tax.
Absolutely false. Not all new homes have Mello Roos fees. Mello Roos fees are to developers what resort fees are to hotels. It allows them to price their product lower by pushing the costs of roads, schools etc. directly onto the buyer rather than include them in the price of the home. As I said, hotels do a similar thing by charging resort fees for things that were free or optional before. Like the developers, not all hotels charge a resort fee.
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