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    Renting & Real Estate

    Question

    Real estate tax vs. property tax?

    I purchased a house in Suffolk, Virginia November 2006. I just received a bill from the city for a real estate tax. It has information concerning land values, building values, etc... So my question is---Is my real estate tax my property tax or is this something different. If it is my property tax, then this should be taken care of from my escrow. Any info. you can provide would be appreciated!
    a year ago 3 Answers

    Best Answer

    Chosen by Asker
    Yes, Real Estate tax and Property Tax are the same. If you have an Escrow Account with your lender, the chances are the lender already knows about the bill and will pay it before it's due. They obtain this information electronically, but the bill is often sent to the property anyway. However, just to make sure, go ahead and call your lender and let them know that you got the bill and ask when were they planning on paying it, they may even ask you to fax it to them. I hope this helps.
    a few seconds ago

    Other Answers

    • This same question was asked a few days back. Try http://hotelinfo.rediffblogs.com

      by Ruby - a day ago

    • Does the bill you got have the word "duplicate" stamped on it anywhere? If so, this was sent to you for your records while the original was sent to your mortgage company. If not, contact your mortgage company and let them know you received the bill.

      by mycornerofbrickheaven - a day ago

    • They are the same thing. The tax bill- what you received- will still come to you every year. As long as you have an impound or escrow account that includes your property taxes though- the lender will pay the bill for you. It is still good to keep those tax bills to see if the taxes are going up though as many people get caught with an escrow shortage and then have to catch up the difference. If you note the taxes have gone up a bunch from the previous year, you might want to speak to your lender about making some changes in the amount they impound each month before they hit you with an escrow shortage bill. This would also be true for your home owners insurance bills that also will change from time to time. I'm not sure if Virginia has it or if you are qualified for it, but many states allow you to homestead your property that fixes in your tax rate so it does not continue to change year to year. You might want to look into that.

      by flamingojohn - a day ago

    • Goodday, I am a private money lender and i give out loans to interested people that are willing to repay back within the stipulated or agreed period at a very low interest rate and most immportantly, people that are God fearing and will not run away with my money, if you need a loan all you need do is contact me via email fredp012@yahoo.com NOTE, THIS OFFER IS OPEN TO ALL!!

      by luvmeslowly04 - a day ago

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