Gregory Real Estate Group Featured Post
Santa Clarita real estate professional Matt Gregory interviews title expert Derrick LeBlanc to clear up common questions about the Mello Roos Tax required some communities of Santa Clarita. When buying a home in Santa Clarita buyers should be aware of the potential for a Mello Roos tax. Not all, but a good number of communities come with a special Mello Roos Tax, and cautious buyers should consider it as a part of the monthly budget. As expected, the first question we hear from a prospective home buyer is, what is a Mello Roos tax and how much is it going to cost? In the video our title expert, Derrick LeBlanc of Investor’s Title Company explains:
The Mello Roos is an extra bond assessment for properties in specific communities, and are primarily put in place to help the local schools. Buyers must be cautious because the amount of Mello Roos tax varies and is not a part of your usual property tax bill. This special tax is, in addition to the approximate 1¼% tax we typically plan for when considering our new home budget. Some people believe the Mello Roos tax is only temporary and will eventually end. According to Derrick, it’s not likely. Although the bond assessment always has a timeline which includes a start date and end date, there’s always a special stipulation written into the original bond allowing the benefactor (the schools) to approve the continuation of this tax, beyond the original end date. Let’s be honest! When have we ever seen a school that did not need money? The truth is, there has never been a Mello Roos tax discontinued in Santa Clarita, and we don’t see this changing in the future.
Areas known to now have the Mello Roos Tax are: Most of the new developments north of Copperhill such as, Tesoro, West Creek, West Hills, parts of the new Plum Canyon area and Stevenson Ranch. There are a few new Canyon Country developments with special bonds assessments as well, so be proactive! Fill out this form and confirm in advance. The best way to verify the existence and amount of any Mello Roos tax is to complete the form associated with this video or post, and we’ll research your answer. You will receive the information within one working day. It’s critical buyers have this information before making an offer to buy.
If you have any questions or need any information regarding real estate, property title, or Mello Roos, please complete the form above and we’ll be happy help.