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I am purchasing a new home in the Indian Land section of Fort Mill, Lancaster County...My home will be completed (new construction) Oct 29th. I was told that the new lower property tax's (by the tax assessors office) were enforced the fall of this year (2007)...But that I will not see that decrease till the fall of 2008, due to the tax bills already having been sent out for the year...
My question?? Does anyone know how and if I will be seeing the extra 1,700 dollars that I will be over paying into my property tax's?? We have our mortgage set up so that money will be taken out monthly to be put towards our tax's (escrowed) ...But from my understanding...this will be at the old higher rate, due to dh and I having to wait till the fall to apply for the new legal lower tax rate.
Based on all my conversations and readings on this board Indian Land and Fort Mill are two DIFFERENT places.
Mortgage companies can typically issue a escrow overage to you. I would discuss it with your lender.
I know they are....that said...our general address, in the Indian Land section, will most certainly be a Fort Mill one...Our address for legal matters will be an Indian Land one...
So, if you were to send me a letter...You would be sending it to a Fort Mill address, in Indian Land..
Hope that was not to confusing....
edited to say: Has something to do with the zip code set up I believe...
Last edited by misfit; 10-01-2007 at 05:46 PM..
Reason: clarity
I spoke with the tax assessors office....I know the old rate that I will be paying...I also know what I will be paying after the decrease..The difference is about 1,700 dollars..
I know they are....that said...our general address, in the Indian Land section, will most certainly be a Fort Mill one...Our address for legal matters will be an Indian Land one...
So, if you were to send me a letter...You would be sending it to a Fort Mill address, in Indian Land..
Hope that was not to confusing....
edited to say: Has something to do with the zip code set up I believe...
Fort Mill does not extend into Indian Land or Lancaster County. IL does not have a post office, they use Fort Mill's; that's it. Fort Mill and Indian land are two completely different entities in two different countys, but your mail will say Fort Mill. You will, however, being living in Indian Land. If you have kids, they will go to IL schools. Even the local news outlets get it wrong like recently when they said HSBC Mortgage in Fort Mill laid 300 people off. Really it is in Indian land.
I am purchasing a new home in the Indian Land section of Fort Mill, Lancaster County...My home will be completed (new construction) Oct 29th. I was told that the new lower property tax's (by the tax assessors office) were enforced the fall of this year (2007)...But that I will not see that decrease till the fall of 2008, due to the tax bills already having been sent out for the year...
My question?? Does anyone know how and if I will be seeing the extra 1,700 dollars that I will be over paying into my property tax's?? We have our mortgage set up so that money will be taken out monthly to be put towards our tax's (escrowed) ...But from my understanding...this will be at the old higher rate, due to dh and I having to wait till the fall to apply for the new legal lower tax rate.
I hope I have not confused you all....
TIA
Okay taking this whole Fort Mill/Indian Land thing out of the equation (since from what I'm reading...is not even what your question was/is about)....anywho we too pay a monthy figure to have our property taxes set aside until they are due. If in fact there is an overpayment you will receive a refund check for the difference (versus what you paid/what is due). But with that said....I am even more curious on how you happen to know what your new property taxes will be when all is said and done with? Inquiring minds want to know?
Fort Mill does not extend into Indian Land or Lancaster County. IL does not have a post office, they use Fort Mill's; that's it. Fort Mill and Indian land are two completely different entities in two different countys, but your mail will say Fort Mill. You will, however, being living in Indian Land. If you have kids, they will go to IL schools. Even the local news outlets get it wrong like recently when they said HSBC Mortgage in Fort Mill laid 300 people off. Really it is in Indian land.
That's why I said *I know they are* in my previous post...That meant, I know that Fort Mill and Indian Land are separate...That said, we still will have a Fort Mill address.....
I was just to tired to explain that all in detail....Just easier for me to say I will be living in the Indian Land sec of Fort Mill....even though that statement is not completely accurate. I really wish they would separate the two as I would rather people know that I live in Indian Land...and not assume I live in Fort Mill, due to the address I will have to use....
I like Indian Land much more than Fort Mill (better location bumping off of Ballantyne/Waxhaw/Weddington imp)....Will be nice when we get a post office...separate the two, so others will not be so confused by my Fort Mill address..
Okay taking this whole Fort Mill/Indian Land thing out of the equation (since from what I'm reading...is not even what your question was/is about)....anywho we too pay a monthy figure to have our property taxes set aside until they are due. If in fact there is an overpayment you will receive a refund check for the difference (versus what you paid/what is due). But with that said....I am even more curious on how you happen to know what your new property taxes will be when all is said and done with? Inquiring minds want to know?
Thanks for answering my post
I spoke with a woman at the tax assessors office....I stated my soon to be new address...the value of my home....She told me based on the value of the home ( I know this could change next year....the way the market is going, my home could be worth less, lol) a good idea as to what the new rate that I would be paying at the decreased amount would be (give or take a few bucks) I already know the higher rate that we will pay now (based on what the mortgage company is going by..which could be off a bit) ...The difference between the two would be *about* 1,700 less a year, once we are able to take advantage of the lower property tax rate in 2008...
Hope that was not confusing....I am tired, and pregnant
I spoke with a woman at the tax assessors office....I stated my soon to be new address...the value of my home....She told me based on the value of the home ( I know this could change next year....the way the market is going, my home could be worth less, lol) a good idea as to what new rate that I would be paying at the decreased amount would be (give or take a few bucks) I already know the higher rate that we will pay now (based on what the mortgage company is going by..which could be off a bit) ...The difference between the two would be *about* 1,700 less a year, once we are able to take advantage of the lower property tax rate in 2008...
Hope that was not confusing....I am tired, and pregnant
First off...congrats~
Secondly..no it wasn't confusing...the reason I was asking was due to the fact...that the last I had heard things were still kind of up in the air (as local governments determine what millage rates they will apply-which can/do vary from county to county, etc.)...but what the heck...what your telling me sounds good to me (I have just been in a wait and see mode/also on how this will effect our schools too)??
....Now go get some rest!!
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