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Visitor
Geremy
Posts: 2
Registered: ‎03-30-2008
0

Mello roos? How long do they last?

Are mello roos for ten years/ does it depend on area?
Contributor
Duchess
Posts: 34
Registered: ‎09-12-2008
0

Re: Mello roos? How long do they last?

Check with the county. Use the assessors info ,parcel number to look it up online or call the county and ask if they don't have a website that gives this info.
Contributor
Duchess
Posts: 34
Registered: ‎09-12-2008
0

Re: Mello roos? How long do they last?

oh yeah, and I have seen some that go out for 30 years after inception and some only 10. It depends on what improvements the developer asked the community to pay for when the area was developed.
Visitor
Photoman2010
Posts: 2
Registered: ‎11-05-2008
0

Re: Mello roos? How long do they last?

Mello roos taxes will last until you either sell the property or die.  In other words, don't count on taking that tax out of your monthly budget at anytime in the near future.
Visitor
Geremy
Posts: 2
Registered: ‎03-30-2008
0

Re: Mello roos? How long do they last?

Thanks for your answers, but this is th actual answer! 

 

 Answer:   Mello-Roos fee is a separate charge on the property-tax bill. This is in addition to the 1 percent property-tax rate allowed by Proposition 13. Mello-Roos fees may be levied only as long as they are needed to pay off the bonds. Typically, the duration is 20-25 years

Visitor
Photoman2010
Posts: 2
Registered: ‎11-05-2008
0

Re: Mello roos? How long do they last?

The part of your answer that you really need to focus on are the following words: "Mello-Roos fees may be levied only as long as they are needed to pay off the bonds."  Have you ever in your lifetime experienced a tax repeal?  If so count yourself very lucky, if not welcome to the club and don't hold your breath waiting to see Mello-Roos fall off of your tax roll. :smileyindifferent: