Mortgage and property taxes

[julie*mango]

seh yu house value way less dan yu mortgage, does that mean you continue to pay the same amount of taxes on the purchase price versus the actual value?

[CeaBee]

Re: Mortgage and property taxes

where i live the property taxes are computed as a % of the assessed Market Value of the home.

Here, there is a way to dispute the market value if you feel that it has dropped drastically and their assessment is inflated.

since the assessment is only done every three years (i think), when i looked up the last assessment it *seemed* reasonable.

there's a process in place to appeal the assessment after the notice is received as well (if dem did re-assess and value it sky high)

[kia027]

Re: Mortgage and property taxes

as ceabee said yes you can request your home be reassessed.

go to your town city hall tax department (or look them up online) and see if you can find the application

[Dr.Dudd]

Re: Mortgage and property taxes

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Skelli0n</div><div class="ubbcode-body">seh yu house value way less dan yu mortgage, does that mean you continue to pay the same amount of taxes on the purchase price versus the actual value? </div></div>You did npt get tax notice? unless you get a revaluation, you have to pay it, or yoyr bank will foreclose even if you pay the mortgage.

[julie*mango]

Re: Mortgage and property taxes

huh?

[kia027]

Re: Mortgage and property taxes

what I think dr is saying is that you pay the taxes as listed and in the meantime go to your town to request a reevaluation.

He is saying if you choose not to pay your taxes and if you pay your taxes as part of your mortgage (some people I know do not), you can get foreclosed if you dont pay your mortgage amount in full.

[julie*mango]

Re: Mortgage and property taxes

thanks for the clarity Kia...

i was not really askign about not paying taxes but thank you...