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can someone explain taxes (real estate)?


evan9381

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if you can add some insight, i'd appreciate it...1st time home buyer and 1st time doing all this stuff its a little confusing.

 

when i bought my house this year, for "tax year 2009" on the auditors website, it said for my home it was something like $2173. the auditors and treasurers website showing 1/2 of that (1086.xx or so) was paid

 

but a few days ago i get something in the mail saying that what was still owed was like $1490 or so

 

heres what i pulled off the site...can anyone help me make sense of this?

 

http://i7.photobucket.com/albums/y267/evan938/taxes.jpg?t=1262584199

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Call Clarence's office tomorrow and ask. It's best to actually just get it straightened out with them, rather than run through a ton of scenarios trying to figure it out yourself.
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Taxes are paid every six months. The house was re-assessed once you bought it. The tax is now higher. This is normal; you probably received something in the mail. At closing, any tax paid monthly by the previous owner (which was in escrow) was refunded to them. It is now your responsibility. Your payment will most likely go up if you choose not to pay the difference up front.
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Taxes are paid every six months. The house was re-assessed once you bought it. The tax is now higher. This is normal; you probably received something in the mail. At closing, any tax paid monthly by the previous owner (which was in escrow) was refunded to them. It is now your responsibility. Your payment will most likely go up if you choose not to pay the difference up front.

 

 

so taxes from say june 2008-dec 2008 are paid in jan 2009, right? or is jan-june paid in jan and june-dec paid in july? they didnt do a reassessment. they're done every 3 years, and it was done in 2007. there was a credit at my closing for taxes from HUD, to cover taxes thru when i bought it in march.

 

im just thinking, is "tax year 2009", the $2578 amount what would be paid in july 2010/jan 2011

 

my bank did send me something about july-ish, saying i needed to pay XXX amount to bring my escrow balance up. i think when i did the lump sum payment of $280ish, it still raised my mortgage like $21/mo, but they said if i would have done it monthly, it would have went up like $43/mo

 

do you think my bank will know when i call them?

 

and FWIW, i just (when i say just, i mean like thursday) sent in my complaint of valuation to the auditors office. they've got me paying taxes on a house they say is valued at 115k yet i had 2 appraisals when i bought the house saying 75k and 80k, and i got it at about that. the woman at the auditors office said since i have 2 appraisals and a settlement sheet showing what i bought it for, i shouldnt have to go in for a hearing, and there was a high probability they would just agree with me and lower it to the amount i showed it was valued at.

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Looks like you owe 1490.32 for the first half of the current year. Once you pay that you will owe 2980.63 - 1490.32 =1490.31 for the second half of the year. Your total for the year is 2980.63, probably because you were just re-assessed. Just happened to me this year and mine went up $6000.
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Looks like you owe 1490.32 for the first half of the current year. Once you pay that you will owe 2980.63 - 1490.32 =1490.31 for the second half of the year. Your total for the year is 2980.63, probably because you were just re-assessed. Just happened to me this year and mine went up $6000.

 

There's no way that's possible, based upon either the city's valuation or his estimated lower valuation. Hell, at his valuation of $75k, his ANNUAL taxes should only be $1400ish...based on columbus property taxes.

 

And I hope I don't get re-assessed anytime soon, I'm happy paying taxes on a property the city has undervalued by $80k...but my property taxes have increased $170/yr since I bought the place in 2007, even though my valuation is the same it was BEFORE I bought it, so it has to be levies/bills/whatever for the city.

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i called today and it was a little confusing. it seemed like she was saying everything was ok, but then she said it was like $402 behind from weed/waste removal from the previous owner...she said the taxes follow the house, not the owner

 

but she said the 2578 amount is for 2010 taxes, which will be paid next year. went up almost $400 due to the f'n westerville school levy. but as for the reassessment, i just sent that in, so if they approve it, it hasnt showed up yet...but if it does get accepted at the 78k amount, it will drop my taxes down i think i checked today and it was over $900/yr. maybe even $1k. enough that it was worth it.

 

im going to stop down there friday and talk to them in person. i find it easier to deal with people in person than over the phone.

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sorry in advance for length...

 

just to update - went to treasurers office on friday. he said that the 402.47 should have been found by the title company. he said i needed to contact them and basically state "hey, i paid for a free and clear title and you missed this, now you need to fix it". (in a nutshell)

 

called my realtor (who is my moms friend, so that was helpfull), she needed the tax bill i got faxed to her. also stopped by bank and left a copy with the mortgage guy

 

realtor called me back, stated that they would have to file a title insurance claim, said she called title office today but person who does that is not in until tuesday, so shes calling 1st thing tomorrow

 

guy at bank emailed me, told me the 2578 is my taxes (duh) and the 402.47 is for weed and waste removal that will be added onto that each year. almost 3k in taxes? i think not.

 

i emailed him back and told him what the realtor had said, but that was late today and he probably hasnt seen it. i checked on a few neighbors properties on the auditors website, and not one of them has a "special assessment" for "weed and waste removal".

 

then i did see my bank statement updated to show they paid 1490.xx, which is 1/2 + that assessment, so maybe once they get that sorted out, either the title company will cut me a check since im paying that extra into my mortgage monthly, or the bank can refund me at least the $201 they've paid, and drop my mortgage $30/mo or so or cut me another check come june/july when those get paid

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