City Property Taxes (real estate, insurance, mortgage broker)

[polly123]

Dear all,

We bought a house recently and we have an Escrow that includes City Property Taxes. So we pay it every month.
Recently we got a bill from the City - Real Estate Taxes that we have to pay 2 times per year.

My question is if the tax bills are the same? Do we have to pay City Real Estate Taxes if we pay City Property Taxes every month?

Thanks so much for your help!
I'm SO confused!

[DawnMTL]

Do the amounts add up?

We're in the same boat. We escrow the taxes every month through our mortgage broker, yet the city sends me a bill a couple of times per year, which I promptly ignore.

Just make sure that they're the same thing and that the amounts add up correctly. If necessary, fax the bill to your mortgage broker for them to make sure that this is what they're escrowing for and that they're putting enough aside to pay the taxes.

[polly123]

Thanks so much for your reply!
I will call to my mortgage company tomorrow to find out because the total amount is about the same (I already checked it). What we pay every month is 40 dollars more (total) than we got from the City.
Thank you!!!!!

[Cato the Elder]

Originally Posted by polly123

Thanks so much for your reply!
I will call to my mortgage company tomorrow to find out because the total amount is about the same (I already checked it). What we pay every month is 40 dollars more (total) than we got from the City.
Thank you!!!!!

Is the $40/month for insurance?

When we first moved, the town sent a bill with a stern warning saying it was our job to send our mortgage company a copy since they wouldn't receive one otherwise. After we sent a copy, we found out several weeks later that our mortgage company had already made a payment from our escrow before they ever received a copy of the bill. They evidently figured it out on their own somehow. I guess the town was covering its bases?

[polly123]

Thank you!

I added up all payments (for 12 months) that we pay every month just for the property taxes and it came out as almost the same amount that the city sent us and even $40 more.

That's REALLY good to know!
Thank you!