What is a meloruse tax?
Someone had asked me a question if there is a meloruse tax, and I don't know what it means.
I believe the person spelled "meloruse" wrong, so I couldn't find out what it meant.
Thanks.
2007-10-19 12:51:46 · 2 answers · asked by bengy 1 in Business & Finance ➔ Taxes ➔ United States
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.
Mello-Roos is named after the authors of the bill that made it California law.
The assessment appears on your annual property tax bill. If you are in a Mello-Roos district, you must disclose that information to someone who is buying your house.
2007-10-19 12:57:36 · answer #1 · answered by raichasays 7 · 0⤊ 0⤋
I believe it's called Mello-Roos, after the legislators who came up with it. It's a special assessment that some jurisdictions have come up with to raise funds and dodge the limitations of Prop 13.
2007-10-19 12:58:29 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋