We are planning to buy a new home that comes with MELLO ROOS, I know this is not tax deductible so in a way is money we not getting back, but we do get it back in the way of local development and what not.. We not rich or anything, so this Mello Roos is going to be taking a huge chunck out of our montly payments or however often we have to pay it..
From what I understand, we will continue to pay Mello Roos the whole time for 30 years, but why is it that other houses in the area that are for sale, and are only 1 to 5 years old no longer come with Mello Roos?? How can we get rid of the Mello Roos?Mello Roos - How can I get rid of them after I purchase a home?
http://www.clta.org/Publications/Title%2鈥?/a>
I just googled mello roos and it gives you all the information.
It is new for me, I'm in Minnesota, we don't have that.Mello Roos - How can I get rid of them after I purchase a home?
whats a mello roos?
Mello Roos is a tax that the county adds to help pay for schools.
There's no way to avoid paying it, but I haven't seen a Mello Roos tax for more than a 15 year life span. Where are you buying that the Melle Roos is for 30 yrs???
Regards
This is a tax on top of a Real Estate tax. It is generally assessed to pay for public works...ie road, schools, ect.
You cannot avoid this tax, just don't buy the house that comes with this tax.
Here in Canada this tax is the norm, and its so small it's not worth stressing over.
I'm curious what % of your homes value is alloted to this tax?
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