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Bah - Queue — LiveJournal
June 14th, 2004
11:04 pm

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Bah
My mortgage is going up, apparently because the city tax has gone up. Of course, I seem the remember the last tax notice from the city being kind of weird, in that they were doing an estimated tax or something, and that they might refund money if the tax ended up being too high. But I don't really remember. So, since it's automatically going up, I assume it will automatically go down if the tax goes back down. I mean, it's only an extra $50 per month. On the other hand, it's $50 per month.

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From:magid
Date:June 15th, 2004 03:29 am (UTC)
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Wow. That's a huge jump in taxes.
I wonder if it's to make up for deficits or to allow more future spending for city projects.
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From:zzbottom
Date:June 15th, 2004 04:25 am (UTC)
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Wow! Your prperty taxes went up $600 a year?? Holy shit, I mean, that's probably like a 10-20% jump! That's pretty fricking significant if you ask me.
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From:queue
Date:June 15th, 2004 05:35 am (UTC)
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See, I don't really get it. They say that the shortage amount is $420.25, which means 12 monthly payments of $35.02. If I send in a check for the shortage amount, my payment still goes up $13. If I don't, then the shortage amount gets added onto my mortgage, too, which makes it about $48 more. I don't get why it's going up even if I cover the shortage. Maybe to build the escrow back up again?
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From:bitty
Date:June 15th, 2004 05:56 am (UTC)
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Math is hard. Let's go shopping.
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From:magid
Date:June 15th, 2004 06:10 am (UTC)
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Sounds like they majorly underestimated the escrow part of the payment, so there's a shortage now for taxes, and they want to make sure the escrow isn't short in the future, either.
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