Tag: property tax

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Real estate tax and escrow/reserves explained…

Written by Todd Ewing on 2022-07-15.

Homebuyers and refinancing homeowners are often confused at closing about their mortgage lender escrow/reserve requirements. Typically if a homebuyer’s down payment amount is less than 20% or a refinancing homeowner’s equity is less than...

Without title insurance, new homeowner pays special assessment

Written by Federal Title on 2020-09-23.

The buyer was stuck with a $9,550 special assessment on her property tax bill because she waived title insurance coverage at closing.In this story, the homebuyer purchased a property from an estate in which the prior owner decedent had...

Property tax relief for seniors

Written by Federal Title on 2014-02-21.

Did you know that the District of Columbia provides a substantial discount on real estate property taxes for seniors? If eligible, a senior can save 50% on their property tax bill. The income threshold has been updated several times since...

When should you cancel your DC Homestead Deduction

Written by Federal Title on 2012-11-07.

You cannot maintain a Homestead Deduction on a non-owner occupied property. If you no longer occupy a property that currently receives the Homestead Deduction benefit, you must complete and submit this Cancellation of Homestead Benefit form. Under...

Escrow issues for sellers can arise when closing near property tax due date

Written by Federal Title on 2012-08-20.

Whenever a real estate settlement is close to a property tax due date, the potential for a post closing property tax issue increases. Simply, it is a matter of bad timing. Here are a couple escrow issues that can cause problems for home sellers...

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Tag: property tax

Real estate tax and escrow/reserves explained…

Without title insurance, new homeowner pays special assessment

Property tax relief for seniors

When should you cancel your DC Homestead Deduction

Escrow issues for sellers can arise when closing near property tax due date

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