In 2023, the State of Colorado decided to raise property taxes during the most intense Federal Reserve interest rate increasing cycle in decades. Homeowners were informed their assessed values would increase by as much as 60%, thus setting the stage for HIGHER TAXES DUE IN 2024!
TODAY, January 25, 2024, we are beginning to see the official tax amounts being announced: What can you do
Call us and we are happy to walk you through the county tax website to see your official NEW tax amount, and help you plan for the upcoming payment increase! We don't want you to be shocked when you receive your annual escrow analysis!
We are seeing property tax increases of 15% to 45% higher than last year! OUCH!
Example: If your taxes were $3,000 last year, you may see them increase to $3,450-$4,350 this year. The increase will be added on top of your current mortgage payment in order to "catch up" your escrow account, or your mortgage company will request a "lump sum" payment as an alternative!
How To Plan: Actions You Can Take
- Look up taxes on your county "treasurer" website
- You are looking for 2023 taxes due in 2024
- Determine this year's difference by looking at 2022 taxes due in 2023(last year's taxes)
- Then you will know the amount of taxes that your current mortgage escrows will be BEHIND, and the amount to prepare to catch up on! (thank the State of Colorado!)
We Are Here To Help! Call Or Email To Discuss Looking Up Your Taxes, And We Are Always Here To Discuss Whether A Debt Consolidation Refinance Can Help You Lower Your Monthly Payments And Help Offset The Tax Increase...Call Anytime!