Are your property taxes too high?

Eventually, my monthly escrowed taxes will eclipse my mortgage payments.

That’s not a comforting thought, but it’s going to happen.

What does that mean?

If you escrow your taxes, your mortgage bill will likely climb each year thanks to tax hikes.

You didn’t improve your property last year? You don’t have children who attend local schools? That doesn’t matter. Your tax bill will likely inch higher, each year.

How much higher? Well, that depends on your school district’s millage rate.

Property taxes are calculated using county, municipal and school district millage rates. School district taxes make up the lion’s share of the bill.

Click here to check out the re-designed “Housing snapshot” to find out how to calculate you share of the tax burden.

What other information should this graphic include that would help you better navigate the local real estate market?

This entry was posted in City of York, Do it yourself, Economic Outlook, payment, Real estate, Sean Adkins, Your money. Bookmark the permalink.

2 Responses to Are your property taxes too high?

  1. Jeff Gochoco says:

    Once again, a proposal to end, what be one of the last, major incentives to homeownership. Who will it affect the most, of course(!), lower and middle income families who don’t have the deduction strategies of the 1%ers. This proposal is so wrong in many ways: kill the incentive for people that are on the fence of buying or renting, this will kill the small, but positive recovery, the housing market has seen since the (housing market) collapse. Less deductions means smaller tax refunds, which begets, less money being spent back into the economy. If everybody, not just homeowners, doesn’t contact their representatives, you had your chance!

  2. Jeff Gochoco says:

    Sorry, this is to state the above response was to be posted on the discussion re: Ending mortgage interest deductions! Thanks

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