From the comments in this thread, it seems like the payoff of mello roos can be used as a property tax deduction but it doesn’t matter since AMT kicks in. But if AMT can be avoided by having too much income then does it make sense to pay off the mello roos for tax reasons?

Usually I do have to pay AMT like most people but this year cashing in my expiring stock options will push me in the highest 39.6 percent tax bracket so I may not be paying AMT. So if I pay off the mello roos this same year, can I really get the big deduction?

Seems to good to be true. So if anyone sees any holes to this tax strategy, please let me know.