If you're looking to purchase a property in the master planned community of Ladera Ranch you should know this community has Mello Roos taxes. Mello Roos taxes are an additional tax to pay for infrastructure of new communities. That infrastructure includes Parks, Greenbelts, Schools, Police and Fire Stations, Recreation Centers, as-well-as basic infrastructure like sewers and gas lines. The basic California real estate tax is calculated by 1.01% of the purchase price of the home. So if you were to buy a home in California for $500,000 then you would be paying approximately $5,005 per year in taxes. Mello Roos taxes are different because they aren't calculated by a percentage of the purchase price. They're calculated be the size of the home and the lot. The bigger the home the more Mello Roos taxes will cost for any given property.
The Ladera Ranch Mello Roos tax will stay in effect as long as it is needed to pay the expenses of service or until the principal and interest on the bonds are paid off along with any reasonable administrative costs incurred in collecting the special tax, but in no case shall exceed 40 years. Currently, the Mello Roos for the Capistrano Unified School District is set to be paid off in the year 2032. The Rancho Santa Margarita Water District Mello Roos is set to expire in 2038. Both of those dates are of course subject to change as needed. Since most of Ladera Ranch was built between the years 2000 - 2005 it appears that about half of the Mello Roos costs have been paid off. What remains to be seen is whether the tax will go away completely in 2032/2038 or whether it will be significantly reduced as we've seen in some cities like Aliso Viejo.
If you're interested in buying a home and want to know what the Mello Roos taxes are you can contact the Orange County Tax Assessor office or give us a request and we can look it up for you.