It isn’t schadenfreude. Seriously, why did buyers ACCEPT a 666% increase in mello roos over a 5 year period? They didn’t just take it, they said thank you and let me refer my friends and family.
same with San Elijo Hills. The mello roos + property tax was a flat 1.75% of the purchase price in 2002. But in 2006 when prices of homes tripled, the mello roos + property tax was STILL 1.75%. San Marcos property base tax is 1.25%, so let’s just look at the mello roos of 0.5%. In 2002 a 2500 sqft home went for $300,000, meaning a mello roos of $1500/year or $45,000 in 30 years. In 2005 that same 2500 sqft home went for $800,000, meaning the mello roos became $4000/year or $120,000 in 30 years. If mello roos TRULY was meant to pay for infrustructures and schools, that price SHOULD NOT CHANGE between 2002 and 2005. But it did. In this case a 266% increase in price tag within 3 years.
There is really never in history where folks were willing to sit down and agree to such DRAMATIC increases in taxation over such short amount of time.
By virtue of the builders having the ability to just take these mello roos away just like that, you know these DRAMATIC price increases in mello roos over the last few years were simply builders taking advantage of the buying frenzy.
Ionegarm, if you sit down and look at things from this prospective, this is not schadenfreude at all.
