Regarding property taxes for a house

[~PalmTreeGurl~ 154]

Here's the thing. Adam & I just bought our first house in November. All taxes for 2o1o were paid by the seller and title co. Taxes for the county and school district were roughly $1700 or so last year.

I get updates on my bank for each month for the mortgage. Mortgage consists of principle, interest, taxes and insurance.

Ok, I get an escrow analysist that says starting this year Taxes will be $3000 and that its behind for the past 6 months and they will make my mortgage payment go up from $602 to $762 starting next month. I call my county and they tell me taxes were only $1700 last year and now about $1400 for this year.

Im having to wait 14 days according to the bank so they can figure it all out. But I have paperwork from my county district saying school and property tax is only $1400... soo... the bank cant make up a tax total of $3000 without any proof right? This is our first time buying a house and getting involved with all of this and the title co. said the bank didnt do their numbers right for the taxes. The bank said today that it looks like I have 2 counties tax. My county said no I dont. A bank should be handling numbers alot better than making that kind of big mistake!? I told the bank Im not paying extra money for taxes of $3000 when my county and school district is for a whole lot less. Has anyone else dealt with something like this before ???

[^_^ 5,021]

Here's the thing. Adam & I just bought our first house in November. All taxes for 2o1o were paid by the seller and title co. Taxes for the county and school district were roughly $1700 or so last year.

I get updates on my bank for each month for the mortgage. Mortgage consists of principle, interest, taxes and insurance.

Ok, I get an escrow analysist that says starting this year Taxes will be $3000 and that its behind for the past 6 months and they will make my mortgage payment go up from $602 to $762 starting next month. I call my county and they tell me taxes were only $1700 last year and now about $1400 for this year.

Im having to wait 14 days according to the bank so they can figure it all out. But I have paperwork from my county district saying school and property tax is only $1400... soo... the bank cant make up a tax total of $3000 without any proof right? This is our first time buying a house and getting involved with all of this and the title co. said the bank didnt do their numbers right for the taxes. The bank said today that it looks like I have 2 counties tax. My county said no I dont. A bank should be handling numbers alot better than making that kind of big mistake!? I told the bank Im not paying extra money for taxes of $3000 when my county and school district is for a whole lot less. Has anyone else dealt with something like this before ???

No, but I have had them screw up in other ways. Stay on top of your bank, this will get ironed out as long as you keep on it. If the customer doesn't care, they don't care so you have to let them know (every freakin day) that you care.

[~PalmTreeGurl~ 154]

No, but I have had them screw up in other ways. Stay on top of your bank, this will get ironed out as long as you keep on it. If the customer doesn't care, they don't care so you have to let them know (every freakin day) that you care.

Yah I called again today. First time was the 6th and they said it would take 14 days. I called today to tell them I have my paperwork from the County saying what the estimated taxes are for 2011 and its not $3000 or from 2 counties. He said I had to wait until the 20th to get an answer one way or another. I told him I'll be calling them on the 20th then and it needs to be fixed. Im sure some people dont pay attention to little mistakes and end up forking over money that they dont need to be giving out.

[^_^ 5,021]

Yah I called again today. First time was the 6th and they said it would take 14 days. I called today to tell them I have my paperwork from the County saying what the estimated taxes are for 2011 and its not $3000 or from 2 counties. He said I had to wait until the 20th to get an answer one way or another. I told him I'll be calling them on the 20th then and it needs to be fixed. Im sure some people dont pay attention to little mistakes and end up forking over money that they dont need to be giving out.

Call every day. Don't worry about being a PITA.

[~PalmTreeGurl~ 154]

In your opinion, would it help if I brought the 2011 county tax estimate up to my bank?

[^_^ 5,021]

In your opinion, would it help if I brought the 2011 county tax estimate up to my bank?

can't hurt.

[Ban Hammer 14,299]

the bank can make the escrow a number above the actual taxes, but they'll have to return that excess amount to you in the near future.

[^_^ 5,021]

the bank can make the escrow a number above the actual taxes, but they'll have to return that excess amount to you in the near future.

yes, but it won't count as an overage unless they know it's an overage. this still has to be fixed so the excess amount is marked as an overage.

[I AM NOT THAT GUY 5,715]

Is your house sited on more than one lot? I had the mortgage company freak out that four of my five lots were in tax arrears, until I explained that the county "forgives" taxes on low-value property below a certain amount. The county finally stopped sending out tax bills on low-value property, and that stopped the annual explanation to the mortgage company.

[~PalmTreeGurl~ 154]

yes, but it won't count as an overage unless they know it's an overage. this still has to be fixed so the excess amount is marked as an overage.

Yah and as of the moment until it gets actually fixed, they think its actual county taxes. The guy on the phone yesterday said it looks like I have 2 county taxes. I only have one county which is broken up into 3 parts which equals $800 something plus the school district which is $600 something totaling $1433. On the bank escrow they have the school, the county and something called Special district tax which I cant seem to get of them to explain what is special district tax totaling $1719. I dont have any tax separate from $1433 and I have the paperwork from the County with $1433, so what are they talking about special district tax for $1719 in addition to my county and school district??

[I AM NOT THAT GUY 5,715]

the bank can make the escrow a number above the actual taxes, but they'll have to return that excess amount to you in the near future.

I never had a bank impound my taxes and/or insurance, yet I know many do. I always thought that was negotiable between the lender and the lendee.

Edited April 12, 2011 by Some Old Guy

[I AM NOT THAT GUY 5,715]

Yah and as of the moment until it gets actually fixed, they think its actual county taxes. The guy on the phone yesterday said it looks like I have 2 county taxes. I only have one county which is broken up into 3 parts which equals $800 something plus the school district which is $600 something totaling $1433. On the bank escrow they have the school, the county and something called Special district tax which I cant seem to get of them to explain what is special district tax totaling $1719. I dont have any tax separate from $1433 and I have the paperwork from the County with $1433, so what are they talking about special district tax for $1719 in addition to my county and school district??

We have special districts and special fees here, for everything, from mosquito abatement to the hippie slush fund that masquerades as a hospital tax district.

[~PalmTreeGurl~ 154]

I just noticed on my bank account mortgage info they listed my address with the wrong city. One place has my address correct with my city and in another section for the bank they listed my city as my county name. Sooo maybe thats their error again why they think i am in two cities

[^_^ 5,021]

I just noticed on my bank account mortgage info they listed my address with the wrong city. One place has my address correct with my city and in another section for the bank they listed my city as my county name. Sooo maybe thats their error again why they think i am in two cities

I had a similar fuckup after my refi. They took my county name and thought it was my city name which assigned me to the wrong city. That there was no valid number, street combination for that city didn't seem to matter to them at all. I realized this happened when I got a call from my town saying yo wheres the money?

[Ban Hammer 14,299]

yes, but it won't count as an overage unless they know it's an overage. this still has to be fixed so the excess amount is marked as an overage.

if it's a decent bank, they'll audit the account for any potential shortfall in escrow amount and increase the monthly payment (usually at the start of the new year). any excess escrow amount is refunded at that time.