My house will be paid-off in about 8 months. I was wondering what options people have to pay their property taxes at that time. Right now, the mortgage company collects for property taxes and home insurance and pays them. Can you pay property taxes monthly or do you have to save up and pay them off once per year?
I always get a copy of the assessment and so does my mortgage company. I figure after you dont have to deal with the mortgage company anymore, you then have to pay it yourself.
Never heard of them paying monthly, but I'd just take an estimate of what you paid the year before and add 10%, divide by 12, put that away monthly, and then at the end of the year just fork em over a check.
You can pay your taxes monthly as long as you are paying in advance. ( before they are due) However, you will not earn any interest on your payments through out the year. Better to follow the Francita's advise.