What the heck is a “Mello Roos”?? 😆
If you aren’t a homeowner in California, this may be a very foreign word to you! But a “Mello-Roos” is a great way for new communities or districts to finance improvements that make the area more attractive to homebuyers. Think schools, parks, hospitals, police stations, and more! These amenities can really draw in families or individuals who are looking for a great place to call home.
In California, a Mello-Roos is a special tax that is used to fund public infrastructure projects in newly developed areas. These projects can include things like roads, schools, parks, and other community facilities.
The tax is typically paid by homeowners in these areas, and it is added to your property tax bill. The amount of the tax can vary depending on the specific project and the location of the property.
In 2022, the average Mello-Roos tax paid annually by homeowners in San Diego County was $2,162.00.
While Mello-Roos taxes can be an added expense for homeowners, they also help to fund important community projects that benefit everyone in the area. So, while it may seem like an extra cost, it’s actually a way to invest in the future of your community.
But, it’s important to keep in mind that Mello-Roos taxes can also be a potential issue for some homebuyers. If the tax is too high, it could make the property unaffordable for the buyer. That’s why it’s important to really understand what you’re looking for in a home, before you start your home search. You don’t want a surprise tax with an additional fee you can’t afford!
Overall, it’s all about weighing the pros and cons of Mello-Roos taxes before making a decision. By doing so, you can make the best choice for your lifestyle and finances.
Lisa Hinkson 🗝️
Agent•Broker Associate•BA•Realtor ®
📍eHomes San Diego
💼 DRE CA.02055271 DRE AZ.BR508368000