2006-07-17 09:38:15 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Mello-Roos is a form of financing that can be used by cities, counties, and special districts (such as school disricts). Mello-Roos Community Facilities Districts (referred to as "CFDs") raise money through special taxes that must be approved by 2/3rds of the voters within the district. A CFD is formed to finance major improvements and services within the district which might include schools, roads, libraries, police and fire protection services, or ambulance services. The taxes are secured by a continuing lien and are levied annually against property within the district.
Here's a PDF Document about it: http://mello-roos.com/pdf/mrpdf.pdf
2006-07-17 09:46:47 · answer #1 · answered by ReggieWjr1 4 · 0⤊ 0⤋
It's a type of tax or assesment that you have to pay annually for 50 years. On many newer homes in San Diego, it almost doubles your property tax totals. When we bought ours, we could affod $50,000 more on the total price of the homes with no mello roos, versus the ones with.
2006-07-17 09:41:42 · answer #2 · answered by chris 6 · 0⤊ 0⤋
If you want to buy a land - ideal for beach resort with white sand, good climate & friendly people... come to my place at Sibay Island, Philippines (ASIA) I could help you buy a parcel of land at ( Php 7Million/hectare : $1 = 53 Php) do email me at foxstorm26@yahoo.com if your intrested
2006-07-17 16:04:15 · answer #3 · answered by Fox 2 · 0⤊ 0⤋
omg thats almost my first and middle name!!!
2006-07-17 09:41:33 · answer #4 · answered by MellyMel 4 · 0⤊ 0⤋