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Old 01-15-2007, 05:53 PM
 
2 posts, read 11,760 times
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I've lived in California all my life. We are moving to Atlanta Summer 2008. I just began to search for areas to live. I've come across something very different from owning a home in California, Monthly Real Estate Taxes?

Could someone please explain how this tax works and is calculated in your mortgage. Does this tax apply for all locations or just some?
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Old 01-15-2007, 07:12 PM
 
1,025 posts, read 4,094,353 times
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Could you elaborate, please?
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Old 01-15-2007, 09:33 PM
 
85 posts, read 505,165 times
Reputation: 47
Huh? It isn't montly. I already forgot how it works (just moved back to CA in July) but I think it is once a year? Not monthly though, that is for sure.

Are you thinking of "impound" accounts where you mort. co. collects taxes as part of your monthly payment, then submits it for you?
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Old 01-16-2007, 12:51 PM
 
2 posts, read 11,760 times
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Unhappy Real Estate Taxes...

Just by you being confused, I feel reassured. To elaborate…I am looking at the housing market in the Atlanta area. Some listings state “Monthly Real Estate Tax” For example,
Listing ID: 2056145
Price: $249,900
Bdrms: 3
Baths: 2
RE Tax: $1,580/month

http://homes.ajchomefinder.com/+comshare/view_ulisting.asp?lid=2891-2056145 (broken link)

Look toward the upper-left of the screen.
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Old 01-16-2007, 01:09 PM
LLD
 
Location: Fairfax County, VA
654 posts, read 3,071,452 times
Reputation: 224
Oh I think I see what you mean -- yes I think the way stuff is listed on some sites it is extremly confusing and I definitely saw some big mistakes and typos in the numbers too.

I would say that for a $249,900 house what that last line is an estimate of what your payment would be including the monthly real estate taxes -- not that you will be paying $1580/month in taxes only, which would be plain silly on a house valued at $250K.
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Old 01-22-2007, 03:46 PM
 
32 posts, read 141,085 times
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$1580 a month on a $240K house isn't right. Many of the listings for HOA fees and taxes, which are listed monthly in other areas, are actually annual in Atlanta. HOA fees in SoCal (San Diego) average around $250 a month in many townhouse type subdivisions. In Windward, in Alpharetta, I see $450 and $500 fees, and it didn't seem right... I asked a realtor and he told me those are annual numbers.... boils out to under $50 a month. Much cheaper.

That $1580 number should be an annual tax bill, not monthly.
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Old 01-24-2007, 09:41 AM
 
1 posts, read 5,879 times
Reputation: 10
Quote:
Originally Posted by katreid View Post
I've lived in California all my life. We are moving to Atlanta Summer 2008. I just began to search for areas to live. I've come across something very different from owning a home in California, Monthly Real Estate Taxes?

Could someone please explain how this tax works and is calculated in your mortgage. Does this tax apply for all locations or just some?
Hey yeah I just moved from Oceanside last July to Dallas, GA. I LOVE it here! The weather is nice and it isn't as crowed. As for your question. Yeah you have to pay taxes monthly, but when you buy your home it is added into the total price of your house. You pay the total amount for the year in your monthly payment. It may be different in some places but I am pretty sure they are all the same.
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Old 06-06-2009, 06:10 PM
 
1 posts, read 5,063 times
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Hey Katreid,That is probably a typo or a mistake.I own a house in probably the highest property tax county (Fulton)It cost me about $2200/year for a house worth approx 320K.I came from CA too, It's not even close hereNs
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Old 06-07-2009, 12:26 AM
 
Location: West Cobb County, GA (Atlanta metro)
9,191 posts, read 33,872,549 times
Reputation: 5310
Quote:
Originally Posted by NSJ78 View Post
Hey Katreid,That is probably a typo or a mistake.I own a house in probably the highest property tax county (Fulton)It cost me about $2200/year for a house worth approx 320K.I came from CA too, It's not even close hereNs

You're aware you replied to the original post that is nearly 2 1/2 years old, right?

FYI for future reference: Post dates are in the upper-corner of the post. There's a good chance people are not still reading topics 2 1/2 years after posting them.
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