Property Tax Info
What happens to your mortgage payment when the taxes change? We’ll look at my daughter’s changes over the last 18 months. In 2008 when the Indianapolis property tax C-bill came out ( the final bill for 2006), it was much less than the normal tax bill. Since taxes were behind, my daughters lender assumed her taxes had changed and sent her a check for the overage in her reserve account. Mortgage companies are only allowed to keep a maximum amount in reserves. When the next tax bill came out, the lender paid the taxes, but there wasn’t enough in her...
An email on Friday revealed the answer to the question many have been asking. When will the tax bills go out? Today the Indianapolis Star confirmed the property tax bills for Hendricks County will be mailed out this week. The time bomb – they will receive two bills; the spring bill and the fall bill will go out at the same time and all of 2008 taxes will have to be paid by November of this year. Johnson County residents will face the same fate. Marion County has not yet posted when they will have taxes certified for 2008. Hendricks...
Low interest rates have created an upsurge in the number of homeowners looking to refinance their homes. I don’t have an opinion either way, as I believe it is a personal financial decision everyone needs to make for themselves. Once you have considered the cost of title insurance, closing costs and lender costs; weigh the difference in monthly payments against the length of time you plan to stay in your home, it may make sense for some, while others may not fare as well. If you do decide to refinance your home, please be sure to file your Homestead and mortgage...
Here’s a little knowledge about the tax bills which will soon hit our mailboxes. Remember, you will receive a tax bill for the first half of 2007 in a few weeks, best estimates indicate November 10th. We then expect the last half of 2007 tax bill to come out in January. By May 2009, we should be back to normal ( whatever is normal for Marion County Taxes) and will be paying for the first half of 2008, due, May 10th. In the meantime, check the estimated tax rate and dollar amounts at the Marion County Tax Estimator site. Here’s...
If you live in Hendricks County or are thinking of buying a home in Hendricks County, the new 2008 Tax Bill Data is now available on the government site. A disclaimer appears which states the information is unofficial and the data is for infomational purposes only, but it appears to be fairly accurate. Tax Bill Data If you’ve ever wondered what the plan is for the Ronald Reagan Expressway, you can also find the Master Plan on the Hendricks County Government site. I am personally excited about what the plans for the Expressway means to Hendricks County. Yes, it will...
A Phone Call A recent phone call from a gentleman about the amount of real estate property tax he had to pay for the reconciliation bill in July made me think about what a mess this whole year has been for homeowners, both those who are buying and those who are selling. This particular person closed on his home in July 2007, a really bad month to close on a home in Indianapolis. Let me explain – Last July was the month the property taxes were stayed by the Governor. When tax bills were received last year, (late, I might...
This is a week of tax questions. If you have been a reader here for any time at all, you know the Indianapolis property tax issue is a favorite of mine The following question came from someone who is starting their search for a home in Avon a city just west of Indianapolis. I love working with people who really do their research and am happy to help people with their real estate questions The question: We’re getting ready to look at some properties in Indianapolis (actually, more towards Avon) and I’m having trouble finding what the property tax is to calculate...
Another Repercussion of the Indianapolis Property Tax Issue We all love receiving an unexpected check in the mail. Usually, our first response is, “Great, a refund”. Well……….if you are one of the Indianapolis homeowners who recently received a bonus check from your mortgage company, don’t run to the bank to cash it until you know the repercussions of doing so. Here’s the deal – Our infamous Indianapolis property tax issue has created yet another payment balancing fiasco -this time for your mortgage company. You see, the C-bill or reconciliation bill recently mailed was also mailed to your mortgage company. Your...
