Make Sure Your Property Taxes are Paid on Time!
It’s the time of the year, Property Tax Time! Most of us have already paid property taxes either ourselves or our mortgage company has paid our taxes for us. Whichever camp you fall into, you should pay attention to these tips to ensure that your i’s are dotted and your t’s are crossed.
If escrowed with a mortgage company:
1. Check your property’s tax website to see if your taxes have been paid, especially if you did not get the bill
2. Look at your most recent mortgage statements to see if the tax payments have been deducted from your excrow account
3. Confirm the due dates for your city and county taxes (sidenote: remember that the due dates for Fulton and City of Atlanta have been extended for 2008 because the bills were issued late)
4. Contact your lender if the bills are late or about to be late (sidenote: check with the servicing department)
5. Confirm that the lender will cover any late fees if the bill is paid after the due date (sidenote: you shouldn’t be responsible for their goof)
If not escrowed:
1. Confirm the due dates for your city and county
2. Pay online if possible to avoid late charges
3. Send payments early enough to meet deadlines
4. Always include a copy of the bill with payment and put the tax parcel number on your check
If you bought or sold this year before the tax bill came out:
1. Seller should forward the bill to the buyer as soon as possible so buyer will pay on time
2. Although buyer will be paying the bill, seller’s name is on it
3. Buyer should keep a copy and forward the bill to the new lender if escrowed – otherwise buyer should pay on time
4. Buyer and seller may need to adjust tax prorations based on the actual bill.
