I'm looking at mobile homes online and it'll say 'Property Taxes: $70' or something, along with the lot rent and such.
I'm just wondering if that $70 is monthly or yearly.
Thanks.
2007-06-19 19:18:26 · 6 answers · asked by N/A 3 in Business & Finance ➔ Taxes ➔ United States
send them an e-mail and ask if it's monthly, yearly or whatever. Typically property taxes are required to be paid twice a year, but some towns/cities are having them paid quarterly (4 times a year) to get a steadier cash flow. If you have your real estate taxes paid for by your mortgage lender, then you are paying money each month to your lender for your taxes. They put that money into what is called a "tax escrow" account, and pay the taxes out of that.
2007-06-20 06:44:07 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If the website is listing lot rent and property taxes in the same manner, then I would conclude that the amount quoted is monthly, so that your property taxes would be $840.
People with a mortgage often escrow taxes. This means that each month 1/12 of the annual tax bill is sent to the mortgage company. The mortgage company then pays the taxes, usually annually.
2007-06-20 10:52:31 · answer #2 · answered by ninasgramma 7 · 0⤊ 0⤋
Property Tax is levied at a local level. It is one way counties/townships/cities collect money for the services they provide.
When a real estate listing includes the property tax paid, it's usually the annual amount.
When you pay depends on where you live. Some mandate annual payments, some twice a year. My town asks for payments quarterly, to smooth out the cash flow into the town's coffers.
2007-06-20 09:48:39 · answer #3 · answered by CMass Stan 6 · 0⤊ 0⤋
They usually give the total for the year, but $70 sounds very low for a year but high for a month. If they're showing it in a list that shows other monthly fees, almost sounds like it's monthly. Do they have a place to email them and ask?
2007-06-20 11:35:29 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Property tax is generally a yearly payment, but some states let you pay it in two installments six months apart. If you have a mortgage, you can have estimated property taxes as part of the payment, then the mortgage company or bank makes the payment for you.
2007-06-20 02:28:43 · answer #5 · answered by seraphim12002 3 · 1⤊ 1⤋
Yearly.
In my City, I have to go to the Sheriffs Department to pay.
Some go to County Clerk, Court Houses, etc, to pay those bills.
They can also be mailed in, I believe.
2007-06-20 02:26:05 · answer #6 · answered by Gump023 4 · 1⤊ 1⤋