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Money in Escrow Account- Tax Assessor Question

Posted on 1/31/24 at 1:25 pm
Posted by bayoutiger225
Member since Nov 2009
466 posts
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.

Posted by TigerintheNO
New Orleans
Member since Jan 2004
41234 posts
Posted on 1/31/24 at 1:44 pm to
is the money is escrow only for property taxes?
Posted by PhiTiger1764
Lurker since Aug 2003
Member since Oct 2009
13921 posts
Posted on 1/31/24 at 2:20 pm to
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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