|
I received a good faith estimate from my lender today. I understand everything on it except for one thing: the property tax (and she was incredibly unhelpful when I asked her to explain it).
When I looked up taxes on the tax collectors website it says they are $900 a year (its new construciton so the previous taxes were just based on the empty lot). Well, the gfe estimates taxes at $2,500---which is about what they'll be with the house completely built. My question is this: do I have to pay taxes for a whole year when we'll be closing in August? Shouldn't it be prorated? Also, I thought for the first year we still only paid taxes on the lot because they get reappraised at the end of the year. Maybe I'm wrong about this. But it just doesn't seem fair that we're paying property taxes for a whole year (and on the entire house, not just the land) when there wasn't a house there for the whole year AND we didn't own it.
Can someone please explain?
|
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
