How Are Nassau Taxes Paid? (Oyster Bay: mortgage, lender, how much)

[purelygeneric]

As a Queens guy making the move to the 516, I have what might be a silly question...

How are property/school taxes paid? Monthly? Quarterly? Do you receive an invoice?


Thanks so much!

[iluvmycuties]

Are you installing them in your mortgage? Because then your lender would make the payments for you from your escrow.

[pdcnret]

Your school and general taxes are collected by the town you live in. In Oyster Bay, the school taxes come as a separate tax in the fall. You have the option of paying them in a lump sum or paying them in two separate halves, roughly six months apart. The same goes for the other (general) taxes -- police, fire, sewer, parks, etc. -- collected by the town and payable in two separate halves. The tax statement details all of the various taxes that you'll be paying. You get that statement in the beginning of the year.

This all assumes that you're paying taxes separately. If you're paying in conjunction with your mortgage, the bank/lender will pay the taxes from your mortgage escrow.

[purelygeneric]

So at closing - how much of the taxes am I going to be expected to pay upfront (escrow)?

[iluvmycuties]

I think you pay approx. half a year in advance (that's how I remember it from our closing).

[OhBeeHave]

They are paid through the nose.