New Orleans Property Tax Bills! Are they due? Mortgage Escrow Accounts!

    Property taxes are now due in all Parishes, its 2009.  In Orleans Parish you are paying ahead for the entire year of 2009.  The rest of the Parishes collect in arrears or for 2008.  Its your responsibility to make sure the bill gets paid once.  If you have a mortgage the escrow account is more than likely pay the bill out of the funds it has collected from you on a monthly basis.  The mortgage company just has to get the bill.  Always a good thing to check it out and make sure its done especially if its your first year of ownership.

    Do not pay yourself and have your escrow account pay as well.  In Orleans its a total nightmare and a six to nine wait to get it corrected while they spend your money.  Great customer service it is not but then you are only a tax payer.  You pay the bills for others to spend.

     Make sure you are getting the Homestead Exemption that you are entitled to, check your assessment as each person living in your condo or home gets a $75,000 exemption.  This amount has not risen since I have been an adult, so much for inflation adjusted adjustments.  Then it is only your money others are spending for your bennefit.

     The escrow account will then start collecting for the next year.  If the account is short they will raise the escrow amount.  By the same token if they have taken too much after seeing the tax bill you will get money back. If you put enough down some lenders will let you go without an escrow account. In condos the taxes should be the only thing in the account.  Always check out the process on year one.

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA