February 12, 2021
Mortgage activity continued strong through January. Especially refinancing. The purchase market, by seasonal standards, is also active despite the severe lack of inventory. It is still too early to predict how 2021 will turn out, but one thing we can count on is taxes.
The 2020 pay in 2021 real estate taxes will become official and available in a few weeks. Here’s a link to the State Budget Order for Monroe County. It details the levy for each taxing district in the county.
Monroe County Budget Order.
Once the taxes become official and available, we’ll begin using those amounts for all prorations unless otherwise instructed. When able, we will also pay those taxes at closing. Over the next few months, taxes will be prorated, paid and escrowed in a variety of ways. If you or your clients are unsure or confused about how taxes are being treated in a transaction, your Closer will be happy to assist you.
In January our team helped over 400 people to buy, sell or refinance their properties. An amazingly large number for January. We are grateful to all our clients for the opportunity to help so many people move onto new housing opportunities or improve their financial situation.
~ John Bethell