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Old 12-11-2011, 10:32 AM
 
4,246 posts, read 12,029,495 times
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It seems I'm paying way more (tax rate) then what I thought it should be. I closed and was told 3.0x% on appraised value. I got the appraisal from Galveston County this year and it was for 175,670. And on it had an estimated tax rate at 3.025%. I got an email (from bank) saying they paid the taxes and they paid $6,630. I'm assuming that amount is only for the property taxes alone. Am I missing something?

I also have this that I received separately and a month earlier, 2012 Assessment Statement/Remittance. Says I need to send this letter to my bank and that $1337 needs to be paid by Jan 31st 2011. Yes it says due by Jan 31st 2011. Was this apart of what they paid in the paid taxes? I'll call Monday but seeing if anyone can let me know.
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Old 12-11-2011, 10:43 AM
 
Location: Pearland, TX
3,333 posts, read 9,177,372 times
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I can't address the amount, but the bank pays the taxes and you have to replenish the escrow for taxes. That's why the bank says you have to pay before Jan 31. They get a billing from the taxing agencies and pay the bill for you, all the while you have been putting monies into the tax escrow account. Are you sure they aren't paying your insurance as well and the $6,630 includes both taxes AND insurance?

Ronnie
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Old 12-11-2011, 02:39 PM
 
4,246 posts, read 12,029,495 times
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Now that could be it. In Galveston county we have to pay the mob errrrrrrrr Windstorm too so that could be where the extra monies went too. I'll checks it out tomorrow. Who would be the best one to call for all the answers? The bank that holds the loan? County Tax office? Home Insurance company?
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Old 12-11-2011, 03:21 PM
 
Location: League City
682 posts, read 1,942,709 times
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Windstorm insurance wouldn't be considered a tax. Maybe all the taxes weren't paid from the previous year? 3.025% of your appraised amount plus that other amount they said you needed to pay totals pretty close to what they said they paid.
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Old 12-11-2011, 04:48 PM
 
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Yeah I'm hoping that was all included. I'll find out tomorrow hopefully.
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Old 12-11-2011, 06:42 PM
 
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Could be school taxes.
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Old 12-11-2011, 09:27 PM
 
4,246 posts, read 12,029,495 times
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All the taxes are all wrapped together in the property taxes as far as I'm aware.
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Old 12-12-2011, 07:56 AM
 
Location: Houston area
1,408 posts, read 4,055,298 times
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You should call the bank first to see how they paid that out. Something doesn't sound right. I'm not sure the insurance would be included in that because that would be paid at the one year mark of when you bought it, not when your taxes are due.
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Old 12-13-2011, 01:14 PM
 
4,246 posts, read 12,029,495 times
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Ok they paid property taxes and utility tax (which is the name of my subdivision) So this means instead of paying the 3.0x% I'm actually paying 3.7x% in taxes? Sweet. I've lived in Dickinson before in bay colony with high taxes and never paid this much. This is ridiculous. I better never here Galveston county going broke or Dickinson nor should they ever raise the taxes.
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Old 12-13-2011, 01:48 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,204,558 times
Reputation: 15226
Utility tax = water tax? That is usually included in your tax rate.
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