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Can't figure out my taxes

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Rycois
Blessed with 2blue/2pink

Member since 12/05

13341 total posts

Name:
J

Can't figure out my taxes

So when we purchased our home in 2006 we were told our taxes were in the low 8Ks. We paid accordingly (or our mortgage company did). Then we get a big check back last year for $6K+ if I remember correctly. Apparently they thought we overpaid (previous owner had the senior exemption). I knew it wasn't ours to keep so I put it in savings to collect the interest and tuck away for when they figured it out. Earlier this year, they figured it out and we get a notice saying our mortgage payment is what it was plus the $6K spread over 12 months. The notice tells us once we're done paying back, or mortgage payment will be what it was previously, plus a few hundred dollars a month (close to $9500K for the year). Mind you, we live in a tiny cape so I'm Chat Icon

I looked up our house on my Nassau Property and it lists for taxes for the year, our original taxes plus "restored" taxes. I don't get it - aren't we already paying that $$ back?

Has anyone dealt with something similar. I try to call the number on the site but it's automated and a PITA.

Posted 7/31/08 4:23 PM
 
Prudential Douglas Elliman Real Estate
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Mommy2Boys
My Boys!!!!

Member since 6/06

14437 total posts

Name:
C

Re: Can't figure out my taxes

Rather than spreading the 6k out over the year, if you have the money you can pay it in one lump sum to keep your mortgage/tax escrow payments what they should be.

After the 6k is paid back, the extra money each month is probably due to an increase in your RE taxes.

Posted 7/31/08 8:47 PM
 
 

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