2007-01-15 05:28:59 · 7 answers · asked by corryminder 2 in Business & Finance ➔ Renting & Real Estate
It depends on your particular financial situation. To my knowledge taxes are DUE once a year. In Florida, you can pay early (Nov. 1st) and get a discount.
How to pay is different from when they are due. Most lenders (not all) will allow you to "escrow" for taxes. For many people, including myself, this makes life easier. In essence you pay approximately 1/12th of your taxes to your lender each month and they pay the bill when it is due.
Why would a lender do this? Well, it is quite simple. If you do not pay your taxes, the county can take and sell your property - regardless of the fact a lender has lien on it (this is an over simplification, but you get the idea).
If you do not have a mortgage and thus no company to escrow with there are programs in many states that will allow you to pay quarterly and perhaps even monthly (check with your local tax collector).
Finally, you may not want to pay your taxes earlier, b/c you are better at investing that money, making a return on that investment and then paying your taxes in one lump sum. I know SOME people who do this, but you had better have your proverbial ducks in a row.
Regards,
Joe...
2007-01-15 05:50:21 · answer #1 · answered by Joe K 3 · 0⤊ 0⤋
Most likely the taxes are held in escrow....meaning the annual tax amount is added into your monthly mortgage payments.
If not you pay twice a year (School Tax usually in September and Real Estate Taxes usually paid in January)
2007-01-15 06:16:39 · answer #2 · answered by whymewhynow 5 · 0⤊ 0⤋
You pay taxes once a year or you can pay your taxes each month when you pay your morgage. Morgage companies can figure in how much in taxes you will have to pay and figure it in with your monthly note....this way you will not have to pay a couple of thousand dollars come the end of the year
2007-01-15 05:37:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It depends on your town. In our town the taxes are so high, they send a bill twice a year so people don't faint dead away when they see how much it is for the whole year. We get a bill in September and another one in March.
For the first year on our mortgagae, the tax payment was figured in to the mortgage payment so we didn't notice it as much.
2007-01-15 05:36:14 · answer #4 · answered by Kacky 7 · 0⤊ 0⤋
You can have your mortgage company pay your taxes, makes life simpler.
2007-01-15 05:43:42 · answer #5 · answered by Lee 7 · 0⤊ 0⤋
once a year
2007-01-15 05:36:07 · answer #6 · answered by colera667 5 · 0⤊ 0⤋
I think its once a year.
2007-01-15 05:32:04 · answer #7 · answered by jessi 3 · 0⤊ 0⤋