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Money in Escrow Account- Tax Assessor Question
Posted on 1/31/24 at 1:25 pm
Posted on 1/31/24 at 1:25 pm
I recently completed construction of my house and we moved in around Labor Day.
Since it's a new build the tax assessor hasn't taken into account the value of the home yet so our parish taxes were low compared to when it will be newly assessed.
I went and looked at my neighbors property and they are roughly all within 4-6K range.
When I went into my mortgage account I noticed we have nearly 15K in escrow after paying the mortgage for 5 months. At the rate we are going I would have nearly 50k in escrow when this years property taxes are due. Has anyone had experience/success with getting the tax assessor to do a new assessment prior to the end of the year?
Im happy that we have a good bit in escrow comparably but id like to get it revised to the close to the correct number so my mortgage payment is lower.
Since it's a new build the tax assessor hasn't taken into account the value of the home yet so our parish taxes were low compared to when it will be newly assessed.
I went and looked at my neighbors property and they are roughly all within 4-6K range.
When I went into my mortgage account I noticed we have nearly 15K in escrow after paying the mortgage for 5 months. At the rate we are going I would have nearly 50k in escrow when this years property taxes are due. Has anyone had experience/success with getting the tax assessor to do a new assessment prior to the end of the year?
Im happy that we have a good bit in escrow comparably but id like to get it revised to the close to the correct number so my mortgage payment is lower.
Posted on 1/31/24 at 1:44 pm to bayoutiger225
is the money is escrow only for property taxes?
Posted on 1/31/24 at 2:20 pm to bayoutiger225
Are you sure that the escrow account wasn’t funded at closing or are you really paying $3k/month to escrow?
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