2023 Property Taxes: What You Need to Know Before April 10th

2023 Property Taxes: What You Need to Know Before April 10th

Pathway EscrowReal Estate

Property taxes are an important responsibility for homeowners. With the second installment of the 2023 property taxes due on April 10th, it’s important to understand how the payment of your property taxes can impact your final net proceeds in an escrow closing.

If you’re handling your own property taxes, there are two main options available to you. The first is to have the taxes included in your monthly mortgage payments. This means that your mortgage company will handle the payment and return the balance of your impound account directly to you after the closing.

The second option is to handle the payment independently. If you choose this option, it’s important to reach out to your escrow professional for specific instructions on how to handle the payment. This is because the way you handle the payment can have a major impact on your final net proceeds in an escrow closing.

At Pathway Escrow, we can provide you with clear and concise instructions to ensure that your payment is made on time and that no funds are held at closing. If you mail a personal check for the property tax payment directly to the county, it could result in funds being held at closing pending the payment being posted. Avoid this by ensuring you have all the necessary information to handle the payment correctly.

In order to ensure a smooth and successful property tax payment process, it’s essential to understand your responsibilities and have a clear plan in place. The expert team at Pathway Escrow is here to help make the process as stress-free and straightforward as possible.

By staying informed and proactive, you can avoid any surprises or complications when it comes to your final net proceeds in an escrow closing. Reach out to the team at Pathway Escrow for guidance and a successful property tax payment process.