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Thread: Mortgage/Prop Taxes Went Up
03-14-2006, 09:17 PM #1
Mortgage/Prop Taxes Went Up
Starting this month our mortgage is $60 higher due to the rise in property taxes/insurance.
We received the notice a few weeks ago, its actually what got me to this forum and back to being much more frugal (had gotten a bit lax with the budgeting).
I & over it and whined to anyone who listened lol but theyre paying more property taxes too!
Anyway, we've been watching what we buy and pinching pennies and its been helping with the bottom line
Ive gotten a lot of good ideas here and encouragement from reading all of your notes thanks!
03-14-2006, 09:25 PM #2
I am sorry to hear that. Do you have a fixed loan?
03-14-2006, 09:31 PM #3
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My property taxes went up to. The taxable assessed value of my house increased almost 3000 this year.
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03-14-2006, 09:35 PM #4
Thanks! Yeah we have a fixed mortgage, but I guess I put it wrong. Our property taxes and home insurance is included along with the actual mortg. payment.
Homes have been selling really high and its caused our property value & taxes to go way up. Doesnt matter that our house is still the same and no big improvements have been made in the area grrr
the actual mortgage is not up, its other extras that have increased the total payment.
$60 is a lot, but its really gotten me back to pinching pennies...
03-14-2006, 09:42 PM #5
We haven't gotten our new mortgage payment. That should happen next month when they reassess the escrow. Can't wait for that.
03-14-2006, 09:49 PM #6
I can relate, our taxes are over $4000.00 a year, we really need to downsize.
03-15-2006, 07:08 AM #7
This year is the first year ours went down.
Can you pay some extra into your escrow account now so the amount doesn't go up every month?
In years past we always had the option of paying extra up front for taxes for the year or pay it monthly.
03-15-2006, 07:14 AM #8
Sorry to hear that, we had the same thing with the property taxes this year, I swear they're going to tax us farmers right off the farms!
Our insurance also went up but I'm sure thats because we had a claim on it last year that was none to cheap, sigh, just once I think we ALL need a break!!
03-15-2006, 01:42 PM #9
We were all warned that our taxes were going to skyrocket due to the high home sales here but most homeowners had no idea just by how much.
Our escrow always had a buffer but not large enough for this wacky jump. Even the lady at the bank knew how it was as her taxes went through the roof.
We've signed the petitions, there have been hearings, etc. We're suppose to see some relief via what the city council says, we'll see.
Thanks for listening and understanding
03-15-2006, 03:37 PM #10
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No fun. The price of everything is going up and incomes aren't able to keep up. All the social programs, insurance, retirement etc. adds to the cost for all tax payers.
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