Nitrousbird Posted August 31, 2005 Report Share Posted August 31, 2005 Well, taxes have went up every year since I bought my house in Reynoldsburg. Now they just sent me something saying the adjusted value of my house has went up $18,000 (which is correct based on what other houses sell for around here, but still sucks). I'd just like to get a good estimate on what I'll be paying next year, so I can save back accordingly. Rather save it back now when I'm not needing the money to buy X-mas stuff when the bill becomes due. Quote Link to comment Share on other sites More sharing options...
JCBCPA Posted August 31, 2005 Report Share Posted August 31, 2005 This site should help you out if your are in Franklin County. http://columbusoh.about.com/cs/columbusfranklin/ht/Propertyvalfc.htm Quote Link to comment Share on other sites More sharing options...
Alex1647545498 Posted August 31, 2005 Report Share Posted August 31, 2005 That site didn't tell me carp. I'd like to know too btw. Quote Link to comment Share on other sites More sharing options...
GRN96WS6 Posted August 31, 2005 Report Share Posted August 31, 2005 Don't you guys have an excrow account with your house loan that saves that crap for you automatically? Quote Link to comment Share on other sites More sharing options...
Alex1647545498 Posted August 31, 2005 Report Share Posted August 31, 2005 Nope, I'm currently doing it myself. I think I might do that here soon though. Quote Link to comment Share on other sites More sharing options...
GRN96WS6 Posted August 31, 2005 Report Share Posted August 31, 2005 I'd never do that myself fack that. I'd let the loan company and escrow account handle that. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted August 31, 2005 Author Report Share Posted August 31, 2005 I used to have Escrow, but got rid of it during the refinancing. Greg suggested doing this, as these loan companies have a tendancy to mess with the escrow account and overcharge for things. I know I had a couple issues w/ them paying my insurance premium on my old loan, and sometimes it seemed like I was being overcharged a small amount. I like the way I'm billed now better, except that I have to save back some money every 6 months (that said, my payment is a couple hundred bucks lower a month too). Quote Link to comment Share on other sites More sharing options...
GRN96WS6 Posted August 31, 2005 Report Share Posted August 31, 2005 But you're using the funds to pay the tax bill so its not really lower. If you know the percentage it's going up then just adjust the savings accordingly, doesn't seem that difficult to me. Come on Joe you were always the numbers guy in college. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted August 31, 2005 Author Report Share Posted August 31, 2005 But you're using the funds to pay the tax bill so its not really lower. If you know the percentage it's going up then just adjust the savings accordingly, doesn't seem that difficult to me. Come on Joe you were always the numbers guy in college. I just don't know how R-burg calcualtes their taxes (is it just a % of property value, or is it a base number + %, is it a flate % or varying based on value, different in different locations thru R-burg, etc.). Obviously I can calculate the difference based on just the increase in value. I also don't know if any new levys were passed or expired, either. My "guess" is my taxes will go up approx $300/year, but I'd like to know for sure. And what I am paying overall is a bit lower, even though my loan value is higher. This is due to getting rid of PMI, and a lower interest rate, even though other costs have risen. My point was a few times w/ my escrow, the numbers didn't quite seem to add up. They also had an issue every year with making sure my insurance was paid, which was a PITA. Now I just take care of it. Quote Link to comment Share on other sites More sharing options...
nathan Posted August 31, 2005 Report Share Posted August 31, 2005 I thought that the example explained it on the letter that was sent out? Wasn't it based on every $1000 of home value that the percentage was going to change by X depending on wherever you live? Quote Link to comment Share on other sites More sharing options...
Guest powers Posted September 1, 2005 Report Share Posted September 1, 2005 caao.org is the county auditors association of ohio. Go to that site look up your county in the directiry click on the link and do a property search for your property. Once you have that you can enter your new assesed property value and it will tell you your new tax amount. Your property tax is calulated by adding up a few different taxes which individually are percentages of your assesed property value. It can be comprised of as many as 8 different taxes. And yes, I also choose not to escrow. I want to control my own money. Tommy ask someone who has an escrow account what happens when the account comes up short. They will tell you a story of how their payment went up hundreds of dollars a month untill the situation is leveled out, that is if they were able to make the new much larger payment on time. I have seen it casue people many extra financial burdens they did not expect. They thought it was all handled by the mortgage company, well it is, just not very well. Quote Link to comment Share on other sites More sharing options...
GRN96WS6 Posted September 1, 2005 Report Share Posted September 1, 2005 caao.org is the county auditors association of ohio. Go to that site look up your county in the directiry click on the link and do a property search for your property. Once you have that you can enter your new assesed property value and it will tell you your new tax amount. Your property tax is calulated by adding up a few different taxes which individually are percentages of your assesed property value. It can be comprised of as many as 8 different taxes. And yes, I also choose not to escrow. I want to control my own money. Tommy ask someone who has an escrow account what happens when the account comes up short. They will tell you a story of how their payment went up hundreds of dollars a month untill the situation is leveled out, that is if they were able to make the new much larger payment on time. I have seen it casue people many extra financial burdens they did not expect. They thought it was all handled by the mortgage company, well it is, just not very well. You're the mortgage guy I believe you I have never dealt with any of this since I don't own YET. You would think they can get it right since they have been doing it for years. Quote Link to comment Share on other sites More sharing options...
Guest powers Posted September 1, 2005 Report Share Posted September 1, 2005 You're the mortgage guy I believe you I have never dealt with any of this since I don't own YET. You would think they can get it right since they have been doing it for years. The problem is that taxes go up and the county does not inform the mortgage servicer. Then the new higher tax bill comes the company will not remitt a partial payment and your escrow account is now in the red. You will owe interest on this money and your payment will have to go up drasticly to not only repay what you are short but to also start collecting enough to off set it. It can be a double whammy if your insurance also went up like mine did 100 dollars due to property value increases. There are just too many reasons for me to not escrow that out weight the only good, which is that they do it for you. Quote Link to comment Share on other sites More sharing options...
MrMeanGreen Posted September 1, 2005 Report Share Posted September 1, 2005 Joe, mine is now at $131k. A Reynoldsburg home at $143k will have their tax go up by $3.88/month according to the site. So take that, divide into your new home value, and calculate your taxes based on the difference. Quote Link to comment Share on other sites More sharing options...
Guest GSRchick714 Posted September 1, 2005 Report Share Posted September 1, 2005 http://franklin.governmaxa.com/propertymax/rover30.asp Use the auditor's site to look up your home. Then on the left side, click on "2005 New Values/GIS Map". Then on the left click on the red button that says "2005 New Values". Scroll to the bottom and there is a link to continue which brings you to your new value and a chart to help figure out how much taxes should go up. Quote Link to comment Share on other sites More sharing options...
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