Home Buying in 44077>Question Details

Leslie, Both Buyer and Seller in Killeen, TX

When purchasing a home - can the bank just calculate their own property tax figure??

Asked by Leslie, Killeen, TX Tue Jul 23, 2013

I just bought a home. The yearly property taxes is $2009 year. When my bank sent us the HUD, they listed the taxes as $3407. They said they are estimating the property tax value. When I sent them documentation from the county what the taxes were and if currently assessed at full value what they should be ($2990) they will not accept my figures. Is this illegal??

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Well, I'm in Germany, they didn't send the closing docs until late afternoon - midnight our time - by then our POA signed the documents. Everything our bank did was last minute - maybe on purpose. The last property tax was the $2009. I guess I'm screwed. Thanks for your timely response.
0 votes Thank Flag Link Tue Jul 23, 2013
This should all have been done prior to you closing. It starts with your loan officer who should have a current copy of the tax bill if you are escrowing taxes as well as to calculate if you even had qualified. Then the closing attorney should get a copy of the CURRENT tax bill so they can prorate the taxes CORRECTLY and exactly. You do not estimate on a HUD. You buyer agent should have been on top of all of this. Hopefully you have not signed an estimated HUD and waited for it to be correct. The problem comes if the bank approved it at the wrong amount, the could be a delay in processing and approving the correct amount.
0 votes Thank Flag Link Tue Jul 23, 2013
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