If you are new to home ownership, this is a reminder that your City Property Taxes are due in July - your bill should be arriving sometime in the next few weeks if you have not received it already.
If your bank or mortgage lender has been collecting property taxes in addition to your monthly mortgage payment; then you will have an amount accrued with them in an escrow account that will go towards your taxes. Depending on what the bill is for this tax year, you may have extra money in that account as credit or it may be short. In that case, you will need to make up the shortfall.
It is ALWAYS a good idea to follow up with your district to make sure that your property taxes were paid in full and to ensure that it is all in good order.
Whether or not you pay your own taxes or your mortgage lender does it for you, don't forget to take advantage of any grant amounts that you may be entitled to. You will see these at the bottom of your statement. Tear off the perforated portion and head in to your local district tax office and get them to help you if you are unsure of the amount you need to pay.
Another easy option is to set up a monthly auto-debit straight from your bank account so that rather than being hit with one big bill in the middle of the year, you can enjoy the convenience of a "forced" savings towards paying the inevitable. You can set it up at the tax office or some districts make it available to set up on-line as well.
Cheers and have a great summer!
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THE MORTGAGE GIRLZ
Karen Shale Tammy Cartier