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Can anyone provide me with links/info regarding the property tax rate increase for Wake Cty as well as the cities/towns? Ive done a search but Im coming up empty handed. TIA.
Can anyone provide me with links/info regarding the property tax rate increase for Wake Cty as well as the cities/towns? Ive done a search but Im coming up empty handed. TIA.
There's a rate increase before 2016???
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When in doubt, check it out: FAQ
The tax rates will be determined in June, and will be on the bills that come out in August.
Rates are more variable annually than tax valuations, which will be up for reassessment in 2016.
Thank you. We received a notice today that our monthly escrow amnt is being raised with nearly 20% effective next month. Its just for taxes, we pay our homeowners insurance once a year by ourselves. No idea where they came up with that raise then?! The escrow acct already has a 2 month buffer.
Thank you. We received a notice today that our monthly escrow amnt is being raised with nearly 20% effective next month. Its just for taxes, we pay our homeowners insurance once a year by ourselves. No idea where they came up with that raise then?! The escrow acct already has a 2 month buffer.
Seems like a reasonable question to ask your loan servicer.
Will a 2 month buffer and your current escrow amount provide enough to pay your bill in 7 months?
I noticed a higher property tax listed on my last mortgage statement, so I called Wake County. The person I spoke to said, yes, rates did go up in the city of Raleigh.
Old was: .3735 per 1,000
New is: .3826 per 1,000
I was told that city budget planning raised the rate.
Plus, there will be the normal reassessment in 2016.
I'm not sure at this point when it became effective, but rates did go up in Raleigh and you are being taxed at a slightly higher rate.
Thank you. We received a notice today that our monthly escrow amnt is being raised with nearly 20% effective next month. Its just for taxes, we pay our homeowners insurance once a year by ourselves. No idea where they came up with that raise then?! The escrow acct already has a 2 month buffer.
Mine tried to do that to me once, and I called and spoke to them about it. They actually said part of the increase was "in case anything changes, like your property tax or HO insurance.
I told them it wasn't going to change (this was last year), and that I had called my HO ins. guy and he said rates were not going up, and they immediately lowered my mortgage payment.
They would have had an excess at the end of the year. They probably collected extra $ from I'm sure hundreds of people who never complained about it.
Banks using $ for themselves for months, taking advantage of their customers. Nothing new. Gotta watch everything closely nowadays.
RESPA says banks can keep 6 % of the total that is paid from your escrow account as a cushion. That may boost your mortgage payment so your bank gets its cushion. It doesn't help to complain. I tried and they showed me the laws.
Location: Chapel Hill, NC, formerly NoVA and Phila
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Quote:
Originally Posted by MammaLakn
Thank you. We received a notice today that our monthly escrow amnt is being raised with nearly 20% effective next month. Its just for taxes, we pay our homeowners insurance once a year by ourselves. No idea where they came up with that raise then?! The escrow acct already has a 2 month buffer.
We received notice today from our lender, too, but the increase was only $36 for the year. We're in Orange County.
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We're in Orange County.
