Home Buying in 91350>Question Details

ajb2007, Home Buyer in 91350

Does mello roos tax depends on lot size or square footage of the house?

Asked by ajb2007, 91350 Wed Aug 15, 2012

first time buyer in Santa Clarita

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Answers

4
There are some great homes that have the Mello Roos Tax including the Echo Pointe at Plum Canyon. I have a client that purchased in that location just a year ago. It sounds as if you have already visited the community and are exploring a purchase there. If so, I would recommend that you talk to their preferred lender who can breakdown the tax basis for you. This way you will have accurate information as it is today for the builder with the sq ftg of the home you are looking at purchasing.

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.
0 votes Thank Flag Link Sun May 25, 2014
That is a great question. The answer is that it varies. Some are based on square footage, some are based on the assessed tax value of the home, and some are fixed. I just depend on the tract you are looking at. Good luck on your search.
0 votes Thank Flag Link Fri Jan 10, 2014
Hi First Time Home Buyer!

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!!
0 votes Thank Flag Link Thu Sep 19, 2013
In Stevenson Ranch it is typically based on sqft. If you are talking about Tesoro typically it is based more on a 1.8% property tax fee. Other areas are based on school bond or CFD charges. If you buy a KB home the Mello Roos is off the charts.
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.
Web Reference: http://www.LauraCoffey.com
0 votes Thank Flag Link Wed Aug 15, 2012
I am planning to purchase a KB home property at echo pointe at plum canyon. Do you possibly know how much is the mello roos on that area? I am interested with the 1727 square footage property.
thanks in advance
eric
Flag Thu Aug 16, 2012
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