Mello Roos reduction in WB,WE,Portola Springs

NEW -> Contingent Buyer Assistance Program
[quote author="waitin4ever"]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"]

why would TIC buy it back? They have 400 people interested in their new houses. Why would it benefit them?[/quote][/quote]

how does that work? Bonds are normally created with a fixed rate for a predetermined period. Buying or selling the bond doesn't change it's coupon or date of maturity
 
I don't know exactly how it works but maybe they bought down a portion of the bond so that the homeowners pay less.

My simpleton way of putting it:

1. TIC needs X money to build infrastructure.

2. Special Assessment District issues a bond to fund X money and bond holders get paid back over time with interest.

3. Homeowners pay principal + interest as Mello Roos tax.

4. TIC may need only X - Y money and pays back Y money to reduce bond balance.

5. Lowered bond balance decreases homeowner Mello Roos tax.

Isn't it just like a loan that got prepaid a bit more?

Or... it could have been paid in whole and then re-funded with a lower interest rate or principal amount? Different scenarios may have occurred here that someone more knowledgeable could shed light on.
 
TIC probably bought a significant portion of the bonds when they issued them. Or they only sold a portion of the bonds when they issued them; either because they didn't have enough buyers or that they had planned on buying the bonds themselves.

The info is out there for people to look up. I would, but there is a Laker game on.
 
Just confirmed that the Mello-Roos R2+R8 will be reduced to 1700$ from next year. For this year, only partial reduction to 2400$. So if you are in PS, you are expected to receive your tax refund this week (if you paid your second installment), Or your second install ment will be greatly reduced...
Check your newest tax bill online !!!!




[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]
 
I asked Paloma re: the mello roos reductions and they said that it is changing from $6300 to $5300/year. Still seems like a lot...
 
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