Pay Property Taxes

Who likes to pay property taxes?

Answer: Nobody!

Where I live property taxes are typically higher than many other parts of the country. Unfortunately when my wife and I received our deal for our mortgage we had to agree to pre-pay our property taxes in the same payment as our mortgage. I was not happy about it, but we saved 0.75% on our interest rate because of the real estate market slow down. So we agreed, and who would not.

I recently found out after 12 months of mortgage payments we will be able to pay each six months instead of monthly. This way we can save 6 months of property tax money and collect interest by putting it in a savings account. Also, if we have large expenses we can pay them off, while still continuing to save up to pay twice yearly.

Written by Nagel on June 18th, 2007 with no comments.
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