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Ive heard of something called Mello-Roos. What is it?

April 26, 2017called heard mello-roos

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Ive heard of something called Mello-Roos. What is it?

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In 1989, the Mello-Roos bill passed thru the California Legislature and became law. It says that, from that point forward, developers have to account for the funds to build schools, roads, and sewers to serve new home developments. The developer usually passes those costs to the homeowner in the form of a Mello-Roos bond. Mello-Roos amounts vary from subdivision to subdivision. Mello-Roos fees are billed along with the property taxes and may be tax-deductible. Developments built before Mello-Roos went into effect have no Mello-Roos bond.