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Spikes in Taxes, Rising Escrow Payments

Amanda Bar

This weekend I was hit with a double whammy.  First I had my vehicle issues to repair (thankfully it only came to just over $200), and then I get a statement from Bank of America advising me that my property taxes have been re-assessed and that by February 2010 my monthly escrow payment will be jumping from a little under $90 to $613!

I made calls to Bank of America, my title company (Southern Financial), as well as the Broward County property appraiser in regards to this sudden and drastic spike in price, but unfortunately I was left with no real recourse to fix this issue until later this year.  One of the main issues is that my property value was re-assessed at $172,000 (up from last year's $88,000), and in order to have that amount reduced - considering I only paid $144,000 for the property - I have to wait until August to put in a claim. 

The second issue is that I apparently owe $2,600 in addition to my increased tax payments, because during 2009 I was (unbeknownst to myself or Bank of America) paying property taxes based upon the previous year's property value (that being the $88,000 number) instead of the re-assessed value.  Once the county realized this they promptly sent a statement to Bank of America, who then promptly sent a notice to me that I owe the difference in taxes.

While this is a somewhat staggering blow for me, I am fortunate enough that I can still afford my new monthly premium...but just barely.  All of the home repairs that I was planning after my kitchen remodel will have to be put on hold indefinitely, and with these new payments it will be near impossible for me to save up any significant amount of money until I can get this problem resolved later this year.

Posted by Amanda Conwell at 05:21 PM on January 13, 2010 in Housing , Savings | Permalink | Facebook | Digg | del.icio.us | AIM

Comments

Koji Mori

And an orator said, "Speak to us of Freedom."

And he answered:

At the city gate and by your fireside I have seen you prostrate yourself and worship your own freedom,

Even as slaves humble themselves before a tyrant and praise him though he slays them.

Ay, in the grove of the temple and in the shadow of the citadel I have seen the freest among you wear their freedom as a yoke and a handcuff.

And my heart bled within me; for you can only be free when even the desire of seeking freedom becomes a harness to you, and when you cease to speak of freedom as a goal and a fulfillment.

You shall be free indeed when your days are not without a care nor your nights without a want and a grief,

But rather when these things girdle your life and yet you rise above them naked and unbound.

And how shall you rise beyond your days and nights unless you break the chains which you at the dawn of your understanding have fastened around your noon hour?

In truth that which you call freedom is the strongest of these chains, though its links glitter in the sun and dazzle the eyes.

And what is it but fragments of your own self you would discard that you may become free?

If it is an unjust law you would abolish, that law was written with your own hand upon your own forehead.

You cannot erase it by burning your law books nor by washing the foreheads of your judges, though you pour the sea upon them.

And if it is a despot you would dethrone, see first that his throne erected within you is destroyed.

For how can a tyrant rule the free and the proud, but for a tyranny in their own freedom and a shame in their won pride?

And if it is a care you would cast off, that care has been chosen by you rather than imposed upon you.

And if it is a fear you would dispel, the seat of that fear is in your heart and not in the hand of the feared.

Verily all things move within your being in constant half embrace, the desired and the dreaded, the repugnant and the cherished, the pursued and that which you would escape.

These things move within you as lights and shadows in pairs that cling.

And when the shadow fades and is no more, the light that lingers becomes a shadow to another light.

And thus your freedom when it loses its fetters becomes itself the fetter of a greater freedom.

http://japan-russia.jimdo.com/freedom/

miami

if the county changed their valuation of your home on a different timeline u have 20 days to file a special challenge for the special or unusual assessment.

Amanda

Miami -

As far as I know there is nothing I can do about it until August-September. Whatever 20-day period I had to work with is long gone at this point.

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