Home Buying in Lake Elsinore>Question Details

Eileen, Home Buyer in 90805

Should o stay away from communities that have mello roose tax??

Asked by Eileen, 90805 Thu Mar 28, 2013

I'm looking at properties that are brand new... New school... Park... But the area has mello roose tax... Does that tax get lower and or higher within the years??? Also if I want to sell the property after ...Will it be hard for me too???

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Usually the newer schools have better ratings and if that is what you are looking for, then I think it's worth buying there.The higher Mello-Roos areas are Rosetta Canyon and Alberhill Ranch. Tuscany Hills and Canyon Hills also have Mello-Roos, however it is lower. The community and association amenities are great. The schools have good ratings too. As mentioned before, the newer homes will have higher overall taxes.

If you are looking for a caring Realtor who knows Lake Elsinore very well, I will be happy to help you.

Heidi Franklin
Remax Partners
(909) 772-8842 cell
0 votes Thank Flag Link Thu Mar 28, 2013
Eileen: Ruling out newer homes that have Mello Roos will make the options slim. The building trends allowed builders to incorporate infrastructure bonds into their projects so they did not have to pay for sewer, street lights, and even in some cases schools. It's pretty much unavoidable if you want a newer community.

The bonds last for 20-30 years and then they are paid off. The base rate will always be there which is 1% to 1.2% depending on the area you live in. If you get a copy of the tax bill for each home you are looking at then you will have a better idea of what to expect for a payment.

Looking in a price range that is a little lower to compensate for the taxes is your best bet if you want to live in a newer community.

Best of luck to you and see my link for some home buying options in Lake Elsinore's zip code of 92532.
0 votes Thank Flag Link Sun Oct 20, 2013
Eileen, most newer communities will have mello-roos and/or special assessments.
I have only seen a few new communities that do not, however , you pay a little bit more for the home.
You see, Mello-Roos are developer fees passed on to the homeowners for infrastructure and maintenance costs.
Mello-Roos will stay on the property for between 10-50 years , the most common is 30 years.

If the overall monthly cost of owning in a new community fits your budget, then go for it!

Also be aware of HOA fees in certain communities.

If you want to avoid higher tax rates, then search homes pre-1995.


Jory Blake
951.742.3751
Riverside Mello Roos
Web Reference: http://www.JoryBlake.com
0 votes Thank Flag Link Thu Mar 28, 2013
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