Property Taxes
Property owners pay property tax to the municipality for services like garbage collection, policing and fire protection. The property tax amount is based in part on the property's value.
It is good to be aware that sometimes lenders require a mortgage borrower to add the property tax to their regular mortgage payments. In this case, the lender pays the taxes to the municipality.
About The Author
Don Scott
Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.
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