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RndmBrt t1_j22k2ou wrote

Adding to this. I found out this month that you can have them recalculate your escrow at any time.

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dronesitter t1_j21vsc1 wrote

The taxable value of my home went up 60k, over 33%, this year. I expect this to be painful

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TopLahman t1_j21w2xi wrote

Yes! The amount of people, especially over the last couple years who are wildly confused about this really upsets me. This is something that is glossed over at best, not talked about at worst. It’s confusing and weird and really straps a ton of people.

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riffraffbri t1_j21ya86 wrote

I live on Long Island, NY one of the most heavily taxed areas in the country. My escrow payment is about $1500 per month. We know all about this, and I find it hard to believe that people don't know this. If your school district votes to raise the budget, where do they think the money is coming from?

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keepthetips t1_j21v4a1 wrote

Hello and welcome to r/LifeProTips!

Please help us decide if this post is a good fit for the subreddit by up or downvoting this comment.

If you think that this is great advice to improve your life, please upvote. If you think this doesn't help you in any way, please downvote. If you don't care, leave it for the others to decide.

1

Zealousideal_Amount8 t1_j22p2c0 wrote

If you are a homeowner you should know property taxes go up over time with new bonds being passed and just that’s how taxes work. But most are regulated to no more than 3% year.

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Iciee t1_j23lisy wrote

This almost fucked us after our very first year of home ownership. Property taxes skyrocketed in our area because it's an old neighborhood with old houses being torn down for newer ones. We have a new house, and after the first year of ownership, our payments went up $400 a month because of property taxes.

This increase took effect a month after upgrading my wife's little Sentra to a large SUV (Palisade)

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