Desert Mello Roos taxes: Most of our Coachella Valley does not have Mello Roos Taxes. However there are desert Mello Roos taxes in specific areas of the desert. Be sure to ask your Realtor whether the home you are looking at is in an area that has Mello Roos taxes. If it is, you just need to figure the monthly amount into your payment..local Realtor, Kim Kelly,760-285-3578.
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. There is a “twilight”, meaning the year your Mello Roos will expire, and you can ask your Title Rep. to give you that info.
In the Coachella Valley, the North Indio area is where most of our Mello Roos charging communities reside. Most of the homes were built from 2005-2007, during the crash. The builders of many of those communities, put Mello Roos taxes on the homes. The list prices tend to be lower, so you DO get alot of house for the money, and as long as you figure in the Mello Roos with the HOA, your lender can still get you approved. Just don’t wait until AFTER you find a home to try to get approved, and then find out you can’t afford the monthly payments if the Mello Roos is added in.