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I got a question regarding escrow. I bought my house in MA back in January of this year. I have an escrow on my mortgage for taxes and insurance. The city taxes are due on May 1st, but because of a tax abatement granted to the builder (new construction) there aren't any taxes due for May. My question is, should I let my lender know about this or do they have this information? Also, I was told I will get a supplemental tax bill around May - August of this year for the improvements in the property... so I was wondering if I could have my lender pay this since they don't need to pay anything for May taxes from escrow.
Thanks for the response. I am not sure if my lender will reduce my monthly payment because I am trying to see if they could pay my supplemental property tax bill instead since there are no taxes due for May (because of the abatement). The supplemental tax bill is a one time payment that covers the land improvement from January (Occupancy Cert) to June.
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