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Oh, that escrow...

February 5th, 2008 at 06:47 am

My credit union 'under-charged' me for my escrow payments. We just got a 10% increase in property taxes. We were under charged $50/month, so our payments will increase by $100/month. $50 to make up for what we owe and $50 extra for the projected increase in property tax.

By the way, we pay $4,500 in property taxes each year on a property valued at $65,000 (for tax purposes). People tell me that is a lot. Is it?

3 Responses to “Oh, that escrow...”

  1. Ima saver Says:

    I think so. I pay about $2000 a year on my house valued at about $500,000!!

  2. mulyanto Says:

    Supposedly I'm in a good school district. The streets are always promptly plowed. Downtown is always really nicely maintained. There are a lot of nice parks. Etc. etc. Not that I make a lot of use out of these things, but I guess everyone has to pay their taxes...BTW. My actual value of the house is around $165,000 (bought it at $175,000) but there's some local law that values your house different for tax purposes.

  3. stockpilesrus Says:

    Odd how this came up considering we've spent ALL MORNING calling our local tax commission & insurance company.
    We were raised over $160 a month & thought that weird as well.
    Come to find out our mortgage company (American Mortgage) is claiming they WIRED $1990 to the taxes, yet the tax commission states $1200 was sent via CHECK.
    I demanded a complete investigation from the mortgage company & a fax of the paperwork for 2007 taxes from the tax commission.
    In the meantime, I may have to pay this months payment that includes the additional $160+ fee until this gets settled.
    Anyone have any other advice for the both of us?
    Hope you get this settled quick, I know it's very frustating, I am trying to maintain patience myself right now.
    - Denise

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