CFD No. 89-1 Mello-Roos Tax gets paid off, ending homeowners’ obligation
WILDOMAR – This month, 597 property owners in the Windsong Valley neighborhood will see a reduction on their property tax bills. This tax decrease is a result of the termination of one Mello-Roos tax, or community facilities district of the Lake Elsinore Unified School District, known as CFD No. 89-1.
Because the Special Tax obligations of CFD No. 89-1 have matured, all properties within CFD No. 89-1 will no longer be subject to the annual Mello-Roos tax beginning in fiscal year 2019-2020. Special taxes collected within CFD No. 89-1 were used to construct and modernize facilities at Donald Graham Elementary School, David Brown Middle School and Elsinore High School, as well as recreational and transportation facilities servicing these schools.
Property owners within CFD No. 89-1 will see changes reflected in the fall current year secured property tax bills, typically mailed by the county treasurer-tax collector in October. The final payment of this tax was due April 10.
LEUSD board President Stan Crippen said, “The Lake Elsinore Unified School District would like to express its sincerest gratitude for the community’s continued support of financing school facilities for the benefit of students throughout the district.”
The Mello-Roos Community Facilities Act of 1982 was created to provide an alternate method of financing needed improvements and services. The act allows any county, city, special district, school district or joint powers authority to establish a CFD for the purpose of financing public improvements and services without encumbering the agencies other funds. CFDs are common in Riverside County and are used to mitigate the impact of residential development on the community.
For questions regarding the maturity of this Special Tax obligation, contact the district’s consultant that has administered CFD No. 89-1, Cooperative Strategies, at (877) 250-1503.
Submitted by Lake Elsinore Unified School District.