Foreclosure Prevention
Local Resources
- 211
- Love Inc.
- Community Action Agency
- Community Action House
Financial Knowledge
- Prioritize Your Debt
- Financial Security: Managing Money in Tough Times
- Career Development, Budgeting, Credit 101, Debt Management, Family Stress & Money & More
Buying or Building a New Home
If you are in the process of building a new home, or are buying a newly built home, review your escrow and tax bills carefully. Mortgage companies will base your escrow amount on the past years tax bill when the property was vacant or not completely developed. Once your home is complete and you are assessed for a fully developed parcel the taxes will likely greatly differ. Please contact your city or township assessor, or use this web site to obtain an estimate of what your taxes may be, that way you will be prepared when your mortgage company bill you for the difference.
Buying an Existing Home
If you have purchased an already established home, review your escrow and tax bills carefully. Mortgage Companies will base your escrow amount on the past year tax bills. In the year following a transfer of ownership, the taxable value “uncaps” and will increase or decrease the assessed value, which will change the tax amount. You may contact your city or township assessor or use this web site to obtain an estimate of what your taxes may be.
