Mello Roos reduction in WB,WE,Portola Springs

cottontail

New member
I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2 MELLO-ROOS R2 (800)858-8233
R8 MELLO-ROOS R8 (800)858-8233

If you have property at WB or Portola, you can call them to confirm it.
 
[quote author="cottontail"]I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2 MELLO-ROOS R2 (800)858-8233
R8 MELLO-ROOS R8 (800)858-8233

If you have property at WB or Portola, you can call them to confirm it. [/quote]

Great idea if it is real. Why didn't they do it 6 years ago? Sounds like the squeaky wheels get the oil. Greedy bastards.
 
I thought this was only for Woodbury east. Going down to about 3000/yr.

never heard any such thing from woodury/portola springs builders.


[quote author="cottontail"]I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2 MELLO-ROOS R2 (800)858-8233
R8 MELLO-ROOS R8 (800)858-8233

If you have property at WB or Portola, you can call them to confirm it. [/quote]
 
It is supposed to be a reduce for all 3 communities. WB, WE and portola including existing residents. So please check it out if you can.
 
It is true. However from I know, it's only WE and PS. They have the R2 and R8 Mello Roos. What I am not sure is Woodbury. I have seen some property in Woodbury with R6 Mello Roos which is not part of the reduction. If someone could confirm about Woodbury would be great.
 
[quote author="cottontail"]I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2 MELLO-ROOS R2 (800)858-8233
R8 MELLO-ROOS R8 (800)858-8233

If you have property at WB or Portola, you can call them to confirm it. [/quote]

Which sales person in WB did you hear that from? Montecito rep told us Woodbury is not part of the reduction.
 
If going down to $3k per year as noted above, what was it before? Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price? That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have. My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...
 
I'm actively looking at homes in portola springs (paloma/Los arboles) /woodbury (montecito, dropped out when prices increased before phase 1)/Woodbury east (monterey/coronado).
only place I heard about Mello roos reduction up untill early this week was at woodbury east. From what I know

Portola springs is about 5800/yr.
woodbury is 4800-5000/yr.
Woodbury east was > 4000/yr going down to 3000/yr.

3000 per year gives a tax rate of about 1.6% on a monterey Plan 3 priced at 560K.


[quote author="ck"]If going down to $3k per year as noted above, what was it before? Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price? That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have. My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...[/quote]
 
[quote author="waitin4ever"]I'm actively looking at homes in portola springs (paloma/Los arboles) /woodbury (montecito, dropped out when prices increased before phase 1)/Woodbury east (monterey/coronado).
only place I heard about Mello roos reduction up untill early this week was at woodbury east. From what I know

Portola springs is about 5800/yr.
woodbury is 4800-5000/yr.
Woodbury east was > 4000/yr going down to 3000/yr.

3000 per year gives a tax rate of about 1.6% on a monterey Plan 3 priced at 560K.
[/quote]

That's better, thanks.

We really like that Plan 1Y at Paloma they modified with the upstairs (princess bedroom as my daugther calls it). That's a perfect floor plan for a 1 child family. Edit: I just checked online and it looks like those are all sold out at this time. We last visited probably 6 months ago, and if I recall it was in the low-mid $6's.
 
[quote author="ck"]If going down to $3k per year as noted above, what was it before? Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price? That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have. My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...[/quote]

MR (specially R2 and R8) will go down from 3400 to 1700, but not all new communites have R2/R8. That's about .3% for a 600k house, which means the tax rate will go from 1.8% to 1.5% for some houses having R2/R8.

If you have a tax parcel number and it contains R2 and R8, please call the above numbers to verify.

The following link can be used to search for tax in OC, just input your tax parcel number or your address:

http://tax.ocgov.com/tcweb/search_page.asp
 
[quote author="cottontail"]I heard from several sales person in WB that there will be a mello roos reduction between one to two thousands depending on house type. Can anyone confirm that?

Specifically ,the reduction will be on

R2 MELLO-ROOS R2 (800)858-8233
R8 MELLO-ROOS R8 (800)858-8233

If you have property at WB or Portola, you can call them to confirm it. [/quote]

If you look up any property on the OC Tax Collector site, you can see which Mello-Roos this falls under. For example, I have a friend who lives in the Mille Fluers development in Woodbury - I looked up his address and viewed the full bill and the home fell under R2 Mello Roos and R6 Mello Roos.

Here's the site:http://tax.ocgov.com/tcweb/search_page.asp

So does this mean the the new homes will also fall under these same Mello-Roos's?
 
[quote author="cottontail"]
[quote author="ck"]If going down to $3k per year as noted above, what was it before? Even at $3k/yr, wouldn't that still leave you with an effective tax rate of about 2% on a $600k purchase price? That still sounds high. Or am I reading this wrong that it was $3k per year before and going lower now?

Thanks in advance for any info you have. My ears perked up (with repect to Portola Springs) when I read they were reducing it --- but if still $3k, that remains a bit ticket on top of a big ticket house payment and HOA...[/quote]

MR (specially R2 and R8) will go down from 3400 to 1700, but not all new communites have R2/R8. That's about .3% for a 600k house, which means the tax rate will go from 1.8% to 1.5% for some houses having R2/R8.

If you have a tax parcel number and it contains R2 and R8, please call the above numbers to verify.

The following link can be used to search for tax in OC, just input your tax parcel number or your address:

http://tax.ocgov.com/tcweb/search_page.asp

[/quote]

woops, I didn't know we were typing the same thing at the same time!
 
Sales office at Coronado just told me that TIC officially bought back some of the Mello Roos bond earlier this afternoon. I haven't verified it, but I'm just glad I can breathe a sigh of relief since I kept seeing 1.9% on all of Coronado's marketing paraphernalia and pre-approval loan documents since they said they couldn't advertise the 1.5% until TIC officially bought back the bond. Hoooray!
 
[quote author="scubasteve"]Sales office at Coronado just told me that TIC officially bought back some of the Mello Roos bond earlier this afternoon. I haven't verified it, but I'm just glad I can breathe a sigh of relief since I kept seeing 1.9% on all of Coronado's marketing paraphernalia and pre-approval loan documents since they said they couldn't advertise the 1.5% until TIC officially bought back the bond. Hoooray![/quote]

why would TIC buy it back? They have 400 people interested in their new houses. Why would it benefit them?
 
Not sure if bought it back would be the correct term... maybe reduce.

It could be that the cost they estimated to build the surrounding infrastructure is less so they are reducing the bonds against it... or they are eating some of the costs to help out the homeowners (which probably isn't eating anything if they overestimated their costs). So it "looks" like they are trying to help out new buyers.
 
[quote author="irvinehomeowner"]Not sure if bought it back would be the correct term... maybe reduce.

It could be that the cost they estimated to build the surrounding infrastructure is less so they are reducing the bonds against it... or they are eating some of the costs to help out the homeowners (which probably isn't eating anything if they overestimated their costs). So it "looks" like they are trying to help out new buyers.[/quote]

Looks would be the key word there. Would TIC ever try to help out the new buyers??
 
From what i was told at the sales centers in woodbury east TIC sold a bond to someone and therefore were able to reduce. I don't know all the R2,R7,R8 stuff but this supposedly only applies to woodbury east.



[quote author="StuffIt"]
[quote author="scubasteve"]Sales office at Coronado just told me that TIC officially bought back some of the Mello Roos bond earlier this afternoon. I haven't verified it, but I'm just glad I can breathe a sigh of relief since I kept seeing 1.9% on all of Coronado's marketing paraphernalia and pre-approval loan documents since they said they couldn't advertise the 1.5% until TIC officially bought back the bond. Hoooray![/quote]

why would TIC buy it back? They have 400 people interested in their new houses. Why would it benefit them?[/quote]
 
[quote author="irvinehomeowner"]Not sure if bought it back would be the correct term... maybe reduce.

It could be that the cost they estimated to build the surrounding infrastructure is less so they are reducing the bonds against it... or they are eating some of the costs to help out the homeowners (which probably isn't eating anything if they overestimated their costs). So it "looks" like they are trying to help out new buyers.[/quote]

I think not only attracting the new buyers, it should help out the current home owners in PS as well. Yes it's already expensive to start with, but anything helps I guess.
 
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