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Mello-Roos

When calculating where you want to purchase residential real estate you need to keep a few things in mind that will affect your payment.


Obviously the homeowner’s association dues are part of the picture.  Even if your home is paid off you must make the HOA payments or the association can foreclose on your home or at least file a lien against the real estate.

  
If you are relocating from out of the area you may not have heard of Mello-Roos bonds. 2481_fsp_medres

After CA proposition 13 was past which fixed the residential property tax, some very creative legislators Mello and Roos came up with a bond plan that would allow builders to finance the infastructure of new build communities.

The bonds were in most cases not paid by the builder but added to the home’s tax structure. 


The bond or bonds are not a percentage of sale price but flat figures that my increase slowly over the years and can range from
 a few hundred to a few thousand dollars per year.

 

PT_2lThe other important part of your payment is the base tax rate. The lowest tax rate is 1% and it is figured as a percentage of the purchase price of the real estate.

  • If you purchased a home for 500K then the tax rate is 1% per year or $417 per month.
  • If your base tax rate is 1.4% then the monthly tax bill is $583 per month.
  • Remember that the $166 per month difference will buy a good deal more house.

 

You can check any home on the Orange County Tax Assessors website. See approximate rates below.

 

Laguna Niguel 1% Lake Forest
1%
Laguna Hills 1% Older Mission Viejo 1%
San Juan 1% Newer Mission Viejo
1.1%
Dana Point 1% Aliso Viejo
1.12%+ Mello-Roos
Laguna Beach 1% Ladera Ranch 1.2% + Mello-Roos
Irvine Older 1%

 

If you are thinking of moving to South Orange County and have questions about Mello-Roos or Property Taxes, Ron Buck, with 18 years experince in real estate, will gladly assist you in understanding both property taxes and Mello-Roos taxes.  Ron Buck, Realtor, can help you find the real estate that will achieve your dreams.  The Ron Buck Real Estate Group has the real estate product knowledge and real estate transaction experience to assist you in buying or selling in homes in Laguna Niguel, Dana Point, Aliso Viejo, Laguna Beach, Monarch Beach and Laguna Hills or anywhere in Orange County.

Ron Buck bre 01364665 Keller Williams Realty 01375978