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What are the Riverpark Mello-Roos Fees?

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What is it?

A “mello-roos” assessment is a local tax. Like property taxes, these assessments fund local governmental bodies to help pay for public works, public services, schools, police & fire departments, and more. It is common for home buyers and home owners to have questions about what this entails.

Okay. How much are Mello-Roos Dues?

It depends. Use the Ventura County Tax Assessor’s tax-bill tool, type in the address of the property in question, and click on the highlighted stress address below. It looks like this:

Ventura County Tax Assessor Bill Tool

Ventura County Tax Assessor Bill Tool

Then, click: “View Values.”

View Values Ventura County Tax Assessor

View Values Ventura County Tax Assessor

Then click, “View your Tax Bill.”

View Tax Bill

View Tax Bill

Now you’re looking at the tax bill for that property. Here are the “Mello-Roos assessments.”

Mello Roos on Tax Bill

Mello Roos on Tax Bill

What does this mean? This property has, what appear to be (always consult the tax assessor’s office for accurate information), two mello-roos assessments.

  1. OX CFD5 RIVERPARK/MR 16-21       $1,606.10
  2. CFD#1 RIO ELE SCHL DSTR 16-18       $1,898.92

Misconceptions and Answers

(According to the City of Oxnard):

Mello-Roos Assessment One [General (OX CFD5 Riverpark)]:

–Affects all properties in Riverpark.

–Remains in effect in perpetuity (forever // does not expire).

–The amount increases by at least 2% per year, but not more than 5% per year.

Mello-Roos Assessment Two [Schools] (CFD#1 Rio Ele Schl Dstr):

–Only affects certain properties in Riverpark.

–Ends September 1, 2032 (25-year bond).

–The amount increases by at least 2% per year, but not more than 5% per year.

Misconceptions

–Do they expire?

They do not all expire. Assessment one remains in effect.

–Is it tax deductible?

Most just don’t know. The State of California has attempted to clarify this via Assembly Bill 893, but the bill was never voted on. I would suggest consulting your CPA for more updated insight on this.

–Is the mello-roos assessment based on what you paid for the property?

No. It’s a set amount that increases over time (2-5% per year).

Name

The name “Mello-Roos” arises from the 1982 Community Facilities Act, which was authored by Henry Mello and Mike Roos.

Important Note

All of this information could be totally wrong. Please verify it yourself as rules and information changes all of the time. Always consult a professional accountant for tax advice. Always consult legal counsel for legal advice. (I'm a Realtor.)

Post written by Realtor at “Meet Kevin“, the amazing real estate agent and brokerage serving Ventura County and writing for home buyers, sellers, investors, and anyone with an interest in real estate.