And how much are they in your area? Are they more than the property taxes?
2007-01-27 17:26:25 · 5 answers · asked by Me 6 in Business & Finance ➔ Taxes ➔ United States
I am in Texas if that helps.
2007-01-27 18:00:23 · update #1
HI,I live in Texas also.My property taxes are held in an escrow account since I have a mortgage.You will still get a notice from your appraisal district telling you how much they are.The school taxes are by far the largest of them all.
2007-01-28 00:45:51 · answer #1 · answered by txpilot 3 · 0⤊ 0⤋
Most of the time, if you have a mortgage, you also have an escrow account with it for house taxes and usually for insurance. The lender gets the information on how much the taxes and insurance will be, divides the total by the number of payments each year, and adds that to the amount of your principal and interest payment. If yu have an escrow account, the payment of the taxes is part of your mortgage payment. The bill goes to the lender, and the lender pays it. You get a notice at the end of the year from the lender showing how much was paid.
If you don't have an escrow accout, or if you don't have a mortgage, then the bills go directly to you to pay.
I am in southwest Pennsylvania. We have property taxes from the school, the county, and the municipality. The school tax is by far the largest part of this. My total for these taxes, on a house that would probably sell for about $140,000, are around $3000 a year.
2007-01-27 17:58:51 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
not sure about texas, but if you pay in your mortgage payment and have an Escrow Account, it would be included in your payment and you would recieve a statement from the city, county of what you paid in Real Estate Tax, School Tax should be included, and will not be separated. also depending on county and state.
School tax are part of your property tax it is figured in the escrow account
2007-01-27 18:04:10 · answer #3 · answered by Frank a 1 · 0⤊ 0⤋
I'm not a property owner, but I would reccommend if your state has a legislative hotline-to call and find out what tax dollars pay for schooling in your state. I think my state last year used inheritance taxes to help pay for the schooling. That was just one source of tax they used-there are others. Or, you could possibly call your city hall-and ask someone there-like the mayor's office.
2007-01-27 17:36:57 · answer #4 · answered by SAK 6 · 0⤊ 0⤋
I do not know about your area, but here in Indiana, it is part of our property and excise taxes...
2007-01-27 17:36:50 · answer #5 · answered by Anonymous · 0⤊ 0⤋