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Old 09-08-2009, 09:50 AM
 
25 posts, read 62,774 times
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Default Wake County Property Taxes - Due Date vs Delinquent Date?

We got our bill for Wake County property taxes. It has a due date of September 1, 2009 and a delinquent date of January 05, 2010.

What's the point of a due date if it's not considered delinquent by the due date? I'm confused. (This is obviously my first time paying property taxes.)

Thanks!
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Old 09-08-2009, 10:07 AM
 
Location: Virginia (again)
2,378 posts, read 5,079,285 times
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I'm not exactly sure why they call it a due date. It seems like if your taxes are escrowed by your mortgage company they generally get paid around 11/1. If not, pay them by 12/31 if you itemize and want credit on your income tax returns for paying them in 2009.
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Old 09-08-2009, 10:30 AM
 
Location: Chapel Hill, NC
8,112 posts, read 11,103,225 times
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A due date allows accountants to book the expected revenue, with a reserve for bad debt (amounts that typically are never paid).

What matters to you and I is the delinquent date - although most people try to pay before year end so they can take the tax deduction for the current year.
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Old 09-08-2009, 10:37 AM
 
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Plus, real estate taxes are generally very large, so it gives people time to save up to pay if they don't escrow and don't have the money on hand.
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Old 09-08-2009, 10:50 AM
 
4,199 posts, read 6,705,474 times
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Really amazed to see this post because I just got off the phone arguing with my mortgage company. I want them to pay
my tax bill on or before the Sept due date but they usually pay in Dec.

They say paying by Dec is their policy just before the delinquent date.

I asked if they want me to pay their mortgage payment when it says it
is due or 2 months later.....

I told them to refund & discontinue my escrow and I would
pay my insurance and taxes because I pay my bills before they are due .

I will get the interest from having the money all year
until the taxes/insurance are due. All I have to do is put the escrow amount each month into a separate acct at my bank.

I was annoyed with them so I told them since I was apparently more
organized than them and would pay it on time I would rather take care of it myself.
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Old 09-08-2009, 11:00 AM
 
Location: Chapel Hill, NC
8,112 posts, read 11,103,225 times
Reputation: 7071
Quote:
Originally Posted by kelly237 View Post
Really amazed to see this post because I just got off the phone arguing with my mortgage company. I want them to pay
my tax bill on or before the Sept due date but they usually pay in Dec.
Why on earth does it matter? Seems like you're getting yourself worked up over something that has zero implications for you.

If you do stop using an escrow account (I haven't used one for many years), would you not do the same .... hold on to the money (and earn interest on it) for as long as you can knowing that the government will still consider your payment "on time" as long as it gets there before the delinquent date?
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Old 09-08-2009, 11:20 AM
 
2,068 posts, read 3,613,643 times
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I know when I asked the mortgage rate was slightly lower if I allowed the mortgage company to hold taxes and insurance in escrow.
You should get an annual reviews of the amounts, the account should drop to 1/6th of the total annual payout sometime during the year.

Frank
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Old 09-08-2009, 11:26 AM
 
4,199 posts, read 6,705,474 times
Reputation: 3530
Quote:
Originally Posted by CHTransplant View Post
Why on earth does it matter? Seems like you're getting yourself worked up over something that has zero implications for you.

If you do stop using an escrow account (I haven't used one for many years), would you not do the same .... hold on to the money (and earn interest on it) for as long as you can knowing that the government will still consider your payment "on time" as long as it gets there before the delinquent date?
I'm not worked up about anything...
It is my money and I like to pay before the due date ....
Very plain & simple .
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Old 09-08-2009, 12:11 PM
 
175 posts, read 167,631 times
Reputation: 272
Quote:
Originally Posted by kelly237 View Post
Really amazed to see this post because I just got off the phone arguing with my mortgage company. I want them to pay
my tax bill on or before the Sept due date but they usually pay in Dec.

They say paying by Dec is their policy just before the delinquent date.

I asked if they want me to pay their mortgage payment when it says it
is due or 2 months later.....

I told them to refund & discontinue my escrow and I would
pay my insurance and taxes because I pay my bills before they are due .

I will get the interest from having the money all year
until the taxes/insurance are due. All I have to do is put the escrow amount each month into a separate acct at my bank.

I was annoyed with them so I told them since I was apparently more
organized than them and would pay it on time I would rather take care of it myself.
Your first and last paragraph says it all. You wanted the mortgage company to make an exception to their business operations for you and when they could not do it..................

You did as CHTransplant said and got worked up over nothing.

The mortgage company is not in the wrong.

If you pay by Sept. 1st perhaps you should see if you can get an early payer discount.

Why not ask the Tax Dept. what month most of the money come in.
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Old 09-08-2009, 12:13 PM
 
25 posts, read 62,774 times
Reputation: 46
Quote:
Originally Posted by CHTransplant View Post
A due date allows accountants to book the expected revenue, with a reserve for bad debt (amounts that typically are never paid).

What matters to you and I is the delinquent date - although most people try to pay before year end so they can take the tax deduction for the current year.
Exactly what I was looking for. Thanks for shedding light on this for me.
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