Millions of homeowners dedicate their income to mortgage payments and property taxes every year. If you intend to purchase a home in the future, knowing how mortgage payments and property taxes work and intertwine can give you a better understanding of where your money goes.
Property tax is collected by your local government and allocated to provide resources for citizens such as state parks, schools, road improvement and more.
The property tax amount is calculated based on the local property tax rate and the value of your home.
Your mortgage insurance includes more than the raw amount of your home. In addition to the cost of the home borrowed, the amount also covers interest rates, mortgage insurance, homeowners insurance and the property tax for your district.
Your mortgage lender estimates the amount of property tax you’ll owe at the end of the year based on the property tax rate of your area and divides it by 12.
This amount is then added into your monthly mortgage payments. If you underpay, you’ll owe money to the government, but if you overpay, you’ll receive a tax refund.
Paying off your mortgage is a gradual process worthy of celebration. However, once the house is paid off, it’s essential to remember yearly property taxes are still due.
To stay on top of payments, you can contact your local government, and they can invoice the amount you owe each year. They may also offer you multiple payment options, as some require one lump sum per year, while others may offer quarterly payments.
Understanding your property tax options puts you ahead of the game and helps you better understand how your money helps to improve your community’s overall well-being.
Welcome to Long Island Living at its best! The South Shore of Suffolk County is a suburban area that runs along the shoreline of the Atlantic Ocean. Homes in this area consist of primarily residential properties. This area tends to be diverse in culture and income as it varies by hamlet, village or town. Residents along the South Shore have access to many beaches, parks and recreational activities. I pride myself on my honesty, integrity, hard work and personal service. My first career was in education, starting as a teacher then finishing as a guidance counselor and achieving my Master’s and two PD's. In 1986, I began my real estate career. In a sense, I am still an educator and offering guidance; this time I am outside of the classroom educating my clients on the selling and purchasing processes; which have become so complicated recently and guiding them safely through the confusing and ever-changing real estate market. It is very satisfying to me to help people with not only the greatest financial asset in their lives but their greatest emotional asset; where they celebrate holidays, raise their families and live their lives. I take the needs of my clients very seriously and as a result, I am proud to say, over 90% of my sales are the result of referrals and recommendations. Primarily, my areas of service are the Townships of Babylon and Islip on Long Island’s beautiful South Shore, near pristine beaches and wonderful boating, yet only 55 minutes from Manhattan; truly the best of both worlds. I'm a graduate of the Real Estate Institute and am certified as a Senior Real Estate Specialist. I also hold a license as a Notary Public. Please feel free to call or visit so I can help you fulfill your real estate dreams. I am a Full Service Licensed Real Estate Associate Broker and provide the following: Free appraisal Rental Mortgages International relocation services Sales Home warranty New homes Free school report Water front specialist Notary public Please feel free to call or visit so I can help you fulfill your real estate dreams.
For every sales transaction, a portion of my commission will be donated to Pronto of Long Island, a nonprofit community outreach center who feed the hungry, clothe the needy and provide hope for our neighbors. https://www.prontolongisland.org/
Click Here for a few of my current Listings: http://tours.tourfactory.com/results.asp?u=114062&p=1
Click here to see all of my success stories in 2021:
Click Here for a Free E-Guide: Millennials and Homeownership
Click Here To See My 5-Star Reviews on Zillow:
Testimonials Click Here for the 2021 Buyer Guides & Tips - Complimentary Click Here for the 2021 Seller Guides & Tips-Complimentary
Top Agent Award Fast Expert-Click Here <script type="text/javascript" src="https://www.fastexpert.com/badge/city-badge.js?bs=145&u=NjAyOTE=&ur=L3RvcC1yZWFsLWVzdGF0ZS1hZ2VudHMvd2VzdC1pc2xpcC1ueS8jYWdlbnRfaWQ9NjAyOTEmYWM9dHJrJnR5PWNi&c=V2VzdCBJc2xpcA==&s=Tlk=&ty=city"></script>
SOP - https://files.erealtymedia.com/GetFile.ashx?FileId=27385454