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Originally Posted by Sample00
I prefer to have the town withdrawal the property taxes for my home directly from my bank account. My financial institution doesnt pay me interest on holding onto my property tax money til its due.
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Yeah, avoid letting the bank collect the property taxes. Deal with the municipality if you can and pay monthly to them, that way your tax payment is always up to date and you haven't paid too much and have to get it back from a lawyer if you sell the property, and you also don't have the bank asking you for the full sum for the next year come June that first year.
I used to pay my mortgage weekly when I had one, found that it worked out better for me since my wife and I got paid every two weeks and were on alternating weeks for getting paid. Over the 25 year term it can result in pretty significant savings.