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Message
Property Taxes - WWYD??
Posted on 11/19/18 at 11:40 am
Posted on 11/19/18 at 11:40 am
I built a new house in 2017. From the time we built to the beginning of this year we were just paying in our escrow for the land on our property taxes. We received our 2018 estimate earlier this year and started to save for it as we did not add it to the escrow yet. The plan was to pay the 2018 lump sum of $10,900 the end of the year and let the 2019 be added to escrow. Well we had unforeseen circumstances come up and had to use most of the money we were saving for the 2018 taxes. I still have a couple of thousand I can pay towards it but will be short a large amount. What would you guys suggest? Thanks in advance
6
Posted on 11/19/18 at 11:43 am to tcoates21
Just add it to escrow. Not like you're paying interest on it
Posted on 11/19/18 at 11:49 am to Powerman
The problem I had with that was I would then have 2018 and 2019 taxes to escrow. That would be a huge note. Right now I am paying $2200 without the full amount of escrow. Trying to find a more creative way without raising my monthly note to above $3k.
Posted on 11/19/18 at 11:56 am to tcoates21
Sounds like you have more house than you can afford
Posted on 11/19/18 at 11:59 am to stout
quote:
Sounds like you have more house than you can afford
That's what I was thinking. 10k in property taxes is a pretty expensive house. Even if it's like 300k you should have 10k in cash. Hell, worst case you should have that in principle in a Roth.
Posted on 11/19/18 at 11:59 am to tcoates21
Start hustling...sell off crap you don't need; get a side job for the holiday season, sell jewelry you or spouse rarely wear. Borrow from family to pay the immediate debt, but you need more income.
Agree w/poster upthread that it sounds like you've got too much house.
Agree w/poster upthread that it sounds like you've got too much house.
Posted on 11/19/18 at 1:22 pm to tcoates21
Get a 0% credit card and use on of their promotional checks to pay it- then you have a year to pay it off before interest starts accruing. It’s not a perfect scenario, but then you could use the couple of grand that you still have to begin paying down the balance.
Posted on 11/19/18 at 6:05 pm to LSUGUMBO
If he puts it in an escrow there would be zero interest. He needs to talk to his lender.
Posted on 11/19/18 at 10:17 pm to tcoates21
Look into becoming a sovereign citizen. It’s not for everyone and there is a lot to learn but you could pay zero property taxes. If you think about it, what right does the government have to make us pay taxes on property that we own? If you don’t pay the taxes they take it from you? Sounds like you don’t really own it then. Do some research. If you’ve never sworn allegiance to the US you may have some options.
Posted on 11/19/18 at 11:35 pm to tcoates21
quote:
The problem I had with that was I would then have 2018 and 2019 taxes to escrow. That would be a huge note. Right now I am paying $2200 without the full amount of escrow. Trying to find a more creative way without raising my monthly note to above $3k.
But if you borrow the money from somewhere else to pay the property taxes, you still gotta pay it back. So you can either pay back your lender at 0%, or you can pay back someone else at X%,
If you don't have access to cash or to liquid assets, you are going to have to sell something or borrow the money in one form or another.
Posted on 11/20/18 at 8:13 am to OysterPoBoy
quote:
Look into becoming a sovereign citizen. It’s not for everyone and there is a lot to learn but you could pay zero property taxes. If you think about it, what right does the government have to make us pay taxes on property that we own? If you don’t pay the taxes they take it from you? Sounds like you don’t really own it then. Do some research. If you’ve never sworn allegiance to the US you may have some options.
Goodness, I hope this isn’t serious. But you realize that property taxes go to things like local infrastructure, roads, and schools right? Your police department, fire department, etc.
So sure, don’t pay them if you never leave your house, don’t use a road, and don’t have kids in school.
Posted on 11/20/18 at 8:15 am to tcoates21
Op you have too much house. You can’t afford it. Not sure how you want us to tell you that you either spend too much money or don’t earn enough, you simply need to do one of those things.
Posted on 11/20/18 at 6:14 pm to tcoates21
Better get a 2nd job both of yall.
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