Video Blog (vlog) by REALTOR® JenKlein discusses how to check Mello Roos and Property taxes in Roseville, Rocklin, and Lincoln (regenerated): It’s very important when researching your new home that you take into account your proposed property taxes and other assessments which will add to the principal and interest mortgage payment. It is essential that you understand how it can be impacted and possibly even fluctuate to ensure that you are comfortable with it’s possibilities.
Wikipedia defines Mello Roos as:
The Community Facilities Act (more commonly known as Mello-Roos) was a law enacted by the California State Legislature in 1982. The name Mello-Roos comes from its co-authors, Senator Henry J. Mello (D-Watsonville) and Assemblyman Mike Roos (D-Los Angeles). The Act enabled “Community Facilities Districts” (CFDs) to be established by local government agencies as a means of obtaining community funding. Counties, cities, special districts, joint powers authority, and schools districts use these financing districts to pay for public works and some public services.
Essentially Mello Roos is an additional assessment included in your tax bill which helps fund community parks, streets and other public structures. It is predetermined when the lots are planned and the builder typically chooses how they are figured on each parcel. On your tax bill they are typically notated with the letters “MR.” I encourage everyone to review their tax bill, there are other assessments on your Roseville, Rocklin, and Lincoln property real estate taxes. This figured in with the possibility of an HOA bill could decrease your total buying power in Roseville, Rocklin and most likely Lincoln. Connect with an agent to help figure out which areas have Mello Roos and which ones do not. Feel free to contact me 916-678-1552 or email me Jen@JenKlein.com.
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