MoreShenanigans t1_j272b73 wrote on December 30, 2022 at 2:54 AM

first time homeowner here. I got that mail, but assumed it was just an fyi and that my property tax would be paid by my mortgage servicer. Is that not the case, is it that the mail is just the difference between what I owe and what the mortgage servicer paid?

I'll be contacting my mortgage servicer and the city to be sure. But curious what the set up for other folks is

idunno2468 t1_j27p67e wrote on December 30, 2022 at 6:08 AM

your mortgage should be paying everything. but if you havent applied for the homestead exemption though make sure you do that, its not automatic but only need to apply once!

douglas_in_philly OP t1_j288l99 wrote on December 30, 2022 at 10:13 AM

I don’t recall my mortgage ever including the payment of property taxes. Isn’t it always the responsibility of the home owner to pay them?

Brahette t1_j28gb5k wrote on December 30, 2022 at 11:54 AM

No, your mortgage servicer usually has the money in escrow. They pay the property taxes each year and your monthly payment to them may go up (or down) depending on how much the taxes are that year. You may want to double check with your servicer because you may have been paying the property taxes twice. I have never had to pay my taxes myself.

idunno2468 t1_j29jnra wrote on December 30, 2022 at 5:07 PM

My lender wanted to charge me extra points to pay property taxes and insurance myself. So it’s possible to have a loan that doesn’t include escrow, but not very common

MoreShenanigans t1_j29dxyt wrote on December 30, 2022 at 4:30 PM

Thanks, I've had that in my to-do list forever but haven't gotten around to it. Definitely need to knock that out soon