I know my wife and I had a quick freak out when we received a bill for our real estate taxes the other day. Isn’t that what I pay into an escrow account for? Our sister site on the other side of the river, Hills and Heights, clears things up a bit: […]
I know my wife and I had a quick freak out when we received a bill for our real estate taxes the other day. Isn’t that what I pay into an escrow account for? Our sister site on the other side of the river, Hills and Heights, clears things up a bit:
The Department of Finance recently mailed all real estate bills to the property owner, including those bills intended for owner’s mortgage escrow accounts. This has generated a tremendous volume of phone calls for everyone. Finance distributed an explanation to the 311 Call Center and other departments who may be receiving calls.
The owner does not have to do anything. If the owner has an escrow account, do not pay the bill. The correct bill will be provided to the mortgage company for payment.
DO NOT PAY THE BILL. Whew.
The official statement from the city:
Real estate tax bills were mailed on Friday, May 15, 2009, to all property owners and mortgage holders. The bills mailed to property owners were a duplicate communication and didn’t clearly indicate that escrow agents were also being billed directly. The City apologizes for any inconvenience this has caused.
Property Owners who have escrow agents paying their real estate taxes should know that those escrow agents have been billed by the City. This duplicate bill was intended to help property owners who may have recently paid off or refinanced their mortgages, as they may need this information to meet their responsibilities or forward to a new escrow agent.