FivePoint Valencia: what it is, who is building there, and the Mello-Roos that comes with it

The community is marketed as Valencia by FivePoint; the Santa Clarita Valley Economic Development Corporation describes it as formerly known as Newhall Ranch. In the County's 2021 filing, the landowners were the Newhall Land and Farming Company and Stevenson Ranch Venture.

• —Jurisdiction: unincorporated Los Angeles County, adjacent to the City of Santa Clarita — the County, not the City, is the local government.
• —Location: about 35 miles northwest of downtown Los Angeles, according to the County.
• —Plan: the Newhall Ranch Specific Plan, adopted by the Board of Supervisors on May 27, 2003.
• —Scale: up to 25,000 residential units and about 11.5 million square feet of commercial, industrial and retail space.
• —Villages: five. Mission Village alone is planned for about 4,055 homes.

On March 9, 2021, the County's Board of Supervisors was asked to establish two Community Facilities Districts at the landowners' request:

• —County of Los Angeles CFD No. 2021-01 (Valencia – Facilities): a special tax and bonds to pay for regional infrastructure. County staff recommended an exception to the County's CFD policy so the annual special tax and debt service can escalate.
• —County of Los Angeles CFD No. 2021-02 (Valencia – Services): a special tax that pays for public services on an ongoing basis. A services tax does not end when bonds are repaid.

Both are collected on the county property tax bill. The builder must give you the notice of special tax before you sign; read it for the current amount, the maximum and how it rises. How the tax works in general: what is Mello-Roos.