Our property tax is right at $250/yr. It’s the home insurance that terrifies me, went from $1300/yr to $2300 last year, and I’m waiting get the new increase in August.
Our property tax is right at $250/yr. It’s the home insurance that terrifies me, went from $1300/yr to $2300 last year, and I’m waiting get the new increase in August.
That doesn't seem to add up. Even .5% on a $150k house should be 3x that tax. $2300 in insurance on a $150k house is outrageous.
You seem to be familiar with the situation. What are the property tax laws and insurance risk where the commenter lives?
I'd like for them to explain it. The data I have shows .5% tax is one of the lowest values, with $2300 insurance being the national average for a $300k dwelling. Based on this data, the numbers don't add up. Maybe they can explain so we can learn.
Rural Louisiana and a Homestead Exemption on a house that I bought for $85k.
Yep the escrow for taxes and insurance is the biggest part of my mortgate payment by far.