Mello-Roos taxes are used to create infrastructure or support services in and around new developments. Most see it as a line on their tax bill and wish it didn't exist. Good news is around the corner for many Del Sur residents as CFD 15 is expected to be partially paid off by October 2023. This means a significant reduction in taxes.
How do I know what CFD I live in?
In Del Sur, these bonds are listed on the second line of your tax bill, where you will see something like “POWAY UNF CFD15 #B.” You can also check here
Why do we have to pay Mello Roos?
When Del Sur was first conceived, the developer paid the costs of supporting infrastructure such as roads, parks, fire stations etc etc. The costs were then billed to Poway Unified School District.
In order to pay these costs, PUSD issued an improvement bond to pass on the cost to the homeowners living in Del Sur. The community is split into different tax districts (CFD’s) each with different bonds and payments.
In Del Sur, a second bond was issued to pay for the construction of schools required to serve the community. The State of California pays up to 50% of the cost to build these schools, however it can take years for the school district to receive it.
Why is CFD 15 being partially paid off early?
In 2019, the Poway Unified School District (“PUSD”) finally received their allocation of funds from the state towards the building of D39C.
They used part of the money to pay down CFD bonds 14 and 15. The great news is that it will enable the CFD 15 school bond to be fully paid off around October 2023, which is 34 years earlier than it was set to be paid. Amazing news for homeowners in the CFD 15 district who will make significant savings on their tax bills.
Great! How much will I save?
The school bond payment is calculated on the square footage of your home so it will vary. To give an example, we recently listed a property on Tanner Ridge Road that will see a reduction of $270 a month when CFD 15 is particularly paid in October 2023.
I don’t live in CFD 15, what's the deal for me?
It depends on where you live and what CFD you live in. First confirm which CFD District applies and then check out our recent blog which details all Del Sur CFD plans.
Have questions about mello roos as they relate to homes? Please get in touch, we would love to help.
Disclaimer: The information above is our best synthesis from a combination of sources on the PUSD website and from talking to a member of the district that is well versed in mello roos information. If we unintentionally erred in any of the above information, please verify it with PUSD if the information could have a detrimental effect on you personally.
