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How does property tax affect my mortgage payment?
Posted : 28/04/2024 3:21 pm
Property taxes are included in mortgage payments, and are usually paid into an escrow account. The property tax payment is calculated by dividing the annual property tax amount by 12, and this amount is added to the monthly mortgage payment. This can make the monthly mortgage payment larger, but it avoids having to pay a large amount once or twice a year.
Posted : 30/04/2024 10:23 pm