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Who pay property taxes?

Updated: 1/7/2023
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Wiki User

11y ago

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The person or entity that "owns" the property is responsible for the property taxes.

If you have a mortage on your property you usually have the option of having a certain amount of your monthly payment put into an escrow account. The money is set aside by the mortage holder to pay the property taxes and sometimes even homeowners insurance.

Most mortages are set up this way to avoid the bank ending up in a leagl war with city and state entities over what happens to a property when taxes are not paid. The bank is making sure their investment is protected from a tax lien sale and all of the legal entanglements that are involved in that process.

If your property is paid in full and you are the deed holder you are responsible for paying the bill. You will receive a tax bill and it will tell you how you can go about paying it. The payment options vary by state.

If you think that the amount of tax you are paying is out of line for the property that you own then you can ask for a reassessment. This is not something to take lightly. If your property is reassesed they may find that your taxes are actually higher and then you are stuck with a whole new tax bill.

Talk to your neighbors, if they are willing to share with you, you can get an idea of what the norm is for the area. Your taxes are based on the price that you paid for your property which may not necessarily be in line with the value of your property.

Hoped this helped!

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Antonio Crona

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1y ago
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