I’ve always felt the builders have abused the concept of mello roos thru this housing boom. And I hate to say this Bill, you and your fellow buyers allowed the builder to abuse it and took it as a previlige.
Back in 2000-2001 mello roos were uniformly 0.1 to 0.2% on top of the property tax. what was the price of homes then? 50% of what it is currently. So Bill, assuming your Moorpark home was purchased for $1 million. Back in 2001, your mello roos would have been 0.2% of $500,000 = $1,000 per year, or $30,000 over 30 years.
By 2005, all of the mello roos out there in SoCal jumped to .5% or even .8% of the purchase price. Assuming your $1 million dollar home had a .65% mello roos rate, that gets you $6500/year and $200,000 over 30 years.
Did the price of asphalt, power lines, sewage pipes, and illegal Mexican construction workers increase by 666% over 5 years? NO. So why did the mello roos rate increase by 666% over 5 years? And why did homeowners allow the builders to do this to them and say “thank you for the previlige of paying for this, may I have another?”
things for you and your fellow picketters to ponder this upcoming weekend.
