Rising Property Taxes Affecting Homeowners

​Many counties are reassessing property values after years of appreciation. Below are some tips to keep up with these changing expenses…

• Check your assessment notice - you can often appeal if it’s inaccurate.
• Understand tax caps and exemptions - many counties allow for homestead, senior, and veteran benefits, which can limit increases.
• Escrow impact - Expect the escrow/impound portion of your monthly mortgage payment to adjust as taxes rise.
• Budget tip - Set aside part of income tax refunds or bonuses to help cover next year’s increasing property tax bill.

 
Takeaway: Stay proactive - understanding your local tax rules can prevent payment surprises.