Thursday, February 28, 2008

Dang property taxes...

My property taxes went up for 2008 to $1978.26/year from $633.10 for all of 2007. YIKES!! That is one helluva huge jump!! At first I freaked out thinking that if they went up this much every year, there was no way I would be able to keep up. But, then I remembered, they were so low last year because it was the first year that the conversion had been done at my place and that next year I wouldn't see nearly as drastic a jump. Whew, I panicked there for several minutes, then my rational side kicked in and I was fine. Of course if property taxes are going up, that also means the value of my home is increasing too, so an increase within reason is fine. :)

Since there was such an large increase this year and the first half of the taxes are due in April, and I don't have nearly enough held in escrow to pay them, I need to come up with $600 extra in March to add to the account that pays my taxes. OK, I'm fine with that, I have it and won't even have to take it out of savings, so I am happy. Now if I could just get a new adjustment done to my mortgage so they take the money out over the next 6 months instead of all at one time, I would be much happier. Baby steps!

1 comment:

Escape Brooklyn said...

Ouch! That is a huge increase! Glad you're prepared for it and hopefully it won't jump again anytime soon. =(