What is a Mello-Roos Fee?
November 23, 2010
Since I have posted information on property taxes which are now due, I thought I might post some information on Mello-Roos fees. Notice that these are "fees" not "taxes" although they are collected with your real property tax bill.
A Mello-Roos fees are normally established at the request of a major developer to finance the necessary public facilities to serve a new development. The public agency issues tax-exempt bonds for these public facilities. These bonds are pare typically paid off in 20 years, but California does allow up to 40 years for the pay off.
Usually the fees are calculated based on the size of the home or the lot size. The amount of the fee is established before the home is built and is not based on the current value of the home. These fees can increase or decrease over the life of the bonds, but an increase cannot be over 2% a year.
You can determine if your property is in a Mello-Roos district by reviewing your property tax bill. Mello-Roos fees are identified as Community Facilities District (CFD) followed by a number and the amount of the fee.
For information contact your local County Assessor's Office. They will have the phone numbers and the names of persons to call for each Mello-Roos District.
Since I have posted information on property taxes which are now due, I thought I might post some information on Mello-Roos fees. Notice that these are "fees" not "taxes" although they are collected with your real property tax bill.
A Mello-Roos fees are normally established at the request of a major developer to finance the necessary public facilities to serve a new development. The public agency issues tax-exempt bonds for these public facilities. These bonds are pare typically paid off in 20 years, but California does allow up to 40 years for the pay off.
Usually the fees are calculated based on the size of the home or the lot size. The amount of the fee is established before the home is built and is not based on the current value of the home. These fees can increase or decrease over the life of the bonds, but an increase cannot be over 2% a year.
You can determine if your property is in a Mello-Roos district by reviewing your property tax bill. Mello-Roos fees are identified as Community Facilities District (CFD) followed by a number and the amount of the fee.
For information contact your local County Assessor's Office. They will have the phone numbers and the names of persons to call for each Mello-Roos District.
posted by shirley harry at 8:45 AM
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