As of December 19, 2017, MyQL is now referred to as Rocket Mortgage.
Property taxes are usually levied by local government, at the municipal or county level and typically are the main tax supporting local services like police and fire departments, local education and more.
Our Home Loan Experts have put together a list of the most common questions you ask us about your property taxes. We’ve answered them below.
Q: Do I need to send in a copy of my tax bill?
A: For most of our clients (with the exception of a few tax offices in Pennsylvania), we receive your tax information electronically and automatically pay the bill out of your escrow account.
Q: What are supplemental or added assessments and will they be paid from escrow?
A: We don’t escrow for supplemental or added taxes. These separate bills are released after your initial taxes are sent out.
Q: I received a supplemental tax bill. Will you be paying this?
A: Because supplemental taxes are usually one-time or short-term taxes, we don’t collect for them with your escrow account. If you receive a supplemental bill, you’ll want to contact your tax office directly to arrange a payment.
Q: What’s a late-release tax bill?
A: Sometimes tax offices don’t have bills available when they would normally be released. Don’t worry. We’ll pay the bill when it becomes available.
Q: Why do you anticipate paying my taxes in advance of the due date?
A: Many municipalities offer discounts on your property taxes if you pay before a certain date. Typically, these discounts go down the closer you get to the due date. Whenever possible, we’ll pay by the discount date. If that’s not possible, we’ll make sure they get a paid before they’re late.
Q: I just applied for an exemption or had taxes reassessed. How do I have my escrow adjusted?
A: If your taxes are reassessed, give us a call at (800)-508-0944. It’s important to note that with exemptions, we don’t automatically receive the information from the tax office. Please obtain documentation verifying the exemption and call our Client Relations department so that we can get it reflected in your monthly payment.
Q: Will my taxes be paid prior to the end of the year?
A: We can make sure that taxes are paid before they are considered late. That date may be after the end of the year.
Q: Will you notify me when my taxes have been paid?
A: Yes! Once your tax payment has been submitted, you’ll be able to see this reflected on your MyQL account. You’ll also see the tax payment on your next billing statement and we’ll send you an email for good measure.
Q: My taxes have been lowered or increased. When will this be reflected in my monthly payment?
A: In order to adjust your monthly payment, we would need to run an evaluation of your escrow account. These escrow analyses are run annually on a state-by-state basis.
The run of your escrow analysis is determined by the state in which you live. We’ve included a breakdown of the timeline for each state below.
We’ve tried to answer the big questions here, but it’s possible we missed something. If you don’t see it here, leave your question in the comments.
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