On a side note:
We helped our client compare the purchase of the new home with the mello-roos against an equal valued home.
Home + MRoos + HOA + Tax = What Price
Home + HOA + Tax = What Price.
Then we raised the price of the non-mello roos home to the price of the home with Mello Roos to determine what the best option was for our client.
How exciting for you! Congratulations! You will love owning your home!
Great question too!! Yes, Mello Roos is dependent on the size of the lot.
Your Mello Roos bill is usually collected with your property tax bill.
Mello Roos can be paid off in 20 years but the state does allow up to 40 years.
Mello Roos can increase but only at a maximum rate of 2% per year over a 25 year period.
Mello Roos funds are used exclusively to cover public facilities, like fire departments, police, parks, roads, libraries etc...
Hope this helps and good luck on your new venture!!
If you are not working with an agent I am very familiar with the areas in Santa Clarita and can tell you what the Mello Roos is in each area and whether it will be worth it in terms of resale.