[quote=sdseeker]I just paid my Stonebridge estates Mello Roos today. The annual amount due on my tax bill was approximately $5100. According to the bond agency (or whomever it is that keeps all of this information) this would continue until at least Fiscal year 2034 but could be extended to 2051 if Poway School District issues new bonds. Also it is subject to the 2%/year increase which is all but guaranteed to be added each year. Well guess what, the PUSD is about to issue new debt so had I waited my payoff (Or conversely the term I would have to pay the MR) would be increased. I had to get the payment in by 9/21 to avoid having a higher payoff amount. The payoff was just shy of $57,000. No doubt if I sell in the next 10 years it will be hard to recoup all of this as has been pointed out. On the other hand it gives a pretty solid ROI even if the MR payment period had ended 2034 but looks even better since in all likelyhood the MR will stick with the property for another 30-40 years and increase 2%/year.
I cannot be sure this is a good decision but I will sleep a little better tonight knowing I am out from under this “forever” tax.[/quote]
Very good info.
How did you find out PUSD is about to issue new bonds? Is there a link? Or was it at a board meeting? Thanks
