Jump to content

Recent Topics Recent Topics

Photo
- - - - -

2011 Ad Valorem Tax Bill?


  • You cannot start a new topic
  • Please log in to reply
23 replies to this topic

#1 Incabiker

Incabiker

    Paulding Com member

  • Members
  • PipPipPipPip
  • 482 posts

Posted 10 September 2011 - 07:07 PM

Hey all,

I just got a 2011 Ad Velorem Tax bill. I have never gotten one before, or at least I don't remember one that I ever had to pay. It states that I owe $540.45 by november 11th. What is this bill, property tax? Is it because we recently (early this week) got forclosed on that we are getting this bill? Now that the bank owns the property will they be responsible for this bill? If anyone can enlighten me on this it would be great!! I think escrow used to pay this, is there any way to avoid paying this or will I have to pay it? Just asking is all, I have no clue, but $540 is just a nail on the coffin after a foreclosure.

Just in case.. I had to file for chapter 7 bankruptcy a year ago and the house was included in the bankruptcy and I never reaffirmed the loan, will this have any affect on what is listed above?

Edited by Incabiker, 10 September 2011 - 07:13 PM.


#2 tbird

tbird

    Icon

  • Members
  • PipPipPipPipPip
  • 4,264 posts

Posted 10 September 2011 - 07:32 PM

Send the county a letter explaining that you filed BK (include a copy of your filing notice--the first paper you recieved from the Court with your hearing date on it) and surrendered the house. Obviously the mortgage company has not put the property in their name--which they are supposed to do--but rarely do it.

The county should back off then.

#3 Starr & Dru's Nana

Starr & Dru's Nana

    Super Icon

  • +Member Plus Black
  • PipPipPipPipPipPip
  • 17,129 posts

Posted 10 September 2011 - 07:33 PM

the owner pays that, usually through the mortgage company. If it was foreclosed on, obviously you no longer own it.

In loving memory of Mason (December 1, 2001 to December 9, 2001) and Ashley  Jr. (December 1, 2001 to December 2, 2001

 

n7C4m5.png

 

KBZ8m5.png


#4 Incabiker

Incabiker

    Paulding Com member

  • Members
  • PipPipPipPip
  • 482 posts

Posted 10 September 2011 - 07:36 PM

Well... that makes me glad! Bank gets to keep the property and the property tax. Thanks for the info guys.. you guys are the best.

#5 Starr & Dru's Nana

Starr & Dru's Nana

    Super Icon

  • +Member Plus Black
  • PipPipPipPipPipPip
  • 17,129 posts

Posted 10 September 2011 - 07:39 PM

Many people are under the incorrect opinion that banks and mortgage companies are exempt from paying property taxes on houses (and other property) that they own. They are NOT exempt from paying the property tax.

In loving memory of Mason (December 1, 2001 to December 9, 2001) and Ashley  Jr. (December 1, 2001 to December 2, 2001

 

n7C4m5.png

 

KBZ8m5.png


#6 Marteen-J

Marteen-J

    Icon

  • Members
  • PipPipPipPipPip
  • 1,151 posts

Posted 10 September 2011 - 08:51 PM

the owner pays that, usually through the mortgage company. If it was foreclosed on, obviously you no longer own it.



--- what happens to that escrow account to pay taxes and insurance when it is a foreclosure? ---- do you get the excess refunded? what if there is not enough in there, do they try to come after you for the shortage?

#7 Lucky64

Lucky64

    Super Icon

  • +Member plus pink
  • PipPipPipPipPipPip
  • 8,717 posts

Posted 10 September 2011 - 08:58 PM

Mine is $341.69.

#8 ~Chester~

~Chester~

    Icon

  • +Member plus
  • PipPipPipPipPip
  • 4,835 posts

Posted 10 September 2011 - 09:15 PM

Correct me if I am wrong but I thought Ad Velorem Tax was automobile.

#9 blessedwithboys

blessedwithboys

    Icon

  • Members
  • PipPipPipPipPip
  • 4,252 posts

Posted 10 September 2011 - 09:22 PM

Correct me if I am wrong but I thought Ad Velorem Tax was automobile.


That's what I thought too! I was so confused (still am).
Delight thyself also in the Lord; And he shall give thee the desires of thine heart. - Psalms 37:4 KJV ><((((>

#10 Starr & Dru's Nana

Starr & Dru's Nana

    Super Icon

  • +Member Plus Black
  • PipPipPipPipPipPip
  • 17,129 posts

Posted 10 September 2011 - 10:12 PM

never having gone through a foreclosure, I wouldn't know about what happens if there is more than enough in the escrow account to pay the taxes. I do know that a lot of people are under the belief that banks and mortgage companies don't have to pay the taxes but they do. They are NOT exempt from them, contrary to what has been reported on the news.

--- what happens to that escrow account to pay taxes and insurance when it is a foreclosure? ---- do you get the excess refunded? what if there is not enough in there, do they try to come after you for the shortage?


the definition of ad valorem tax is a tax based on the value of real estate or personal property. It can be applied to houses, though most of us do think of it in relation to automobiles.

Correct me if I am wrong but I thought Ad Velorem Tax was automobile.


In loving memory of Mason (December 1, 2001 to December 9, 2001) and Ashley  Jr. (December 1, 2001 to December 2, 2001

 

n7C4m5.png

 

KBZ8m5.png


#11 Incabiker

Incabiker

    Paulding Com member

  • Members
  • PipPipPipPip
  • 482 posts

Posted 10 September 2011 - 10:23 PM

Ya.. does anyone know what happens to the accumulation of the escrow? Does all that go to the bank? Very good question?

#12 Starr & Dru's Nana

Starr & Dru's Nana

    Super Icon

  • +Member Plus Black
  • PipPipPipPipPipPip
  • 17,129 posts

Posted 10 September 2011 - 10:30 PM

I would think that any money in escrow would go toward the loan payment and not be refunded. At least that's what everything I read has said. It would depend on how your loan is written. Technically, there is no "extra money" to be refunded. Not only that, if you're behind enough in your payments that you're going to foreclosure, there likely is a negative balance in the escrow account.

Ya.. does anyone know what happens to the accumulation of the escrow? Does all that go to the bank? Very good question?


In loving memory of Mason (December 1, 2001 to December 9, 2001) and Ashley  Jr. (December 1, 2001 to December 2, 2001

 

n7C4m5.png

 

KBZ8m5.png


#13 Mrs G

Mrs G

    Super Icon

  • +HELPINGHANDS MPX
  • 10,935 posts

Posted 11 September 2011 - 12:45 AM

If this is the Property Tax Bill, then why not just call it a Property Tax Bill, Instead of "Ad Valorem Tax Notice"????????
Do unto others, as you'd have others do unto you!

Live Simply, Love Generously, Care Deeply, Speak Kindly and Leave The Rest To God.

Your beliefs don't make you a better person, your behavior does!!

Helping a Neighbor in need, is a Blessing, indeed!!! 04/25/2013

#14 really gone from here

really gone from here

    Super Icon

  • Members
  • PipPipPipPipPipPip
  • 8,372 posts

Posted 11 September 2011 - 07:05 AM

If this is the Property Tax Bill, then why not just call it a Property Tax Bill, Instead of "Ad Valorem Tax Notice"????????




The only answer I can come up with......It's Guberment.. :wacko:
*Signature Edited for Content not in Accordance with the PCOM Rules

edited by Deputy Rafe Hollister

#15 Nitro

Nitro

    Icon

  • Members
  • PipPipPipPipPip
  • 2,012 posts

Posted 11 September 2011 - 08:13 AM

If this is the Property Tax Bill, then why not just call it a Property Tax Bill, Instead of "Ad Valorem Tax Notice"????????



Because not every type of tax is base on the value of the item.

"Ad Valorem" is latin for "according to value."

#16 Lucky64

Lucky64

    Super Icon

  • +Member plus pink
  • PipPipPipPipPipPip
  • 8,717 posts

Posted 11 September 2011 - 08:55 AM

Correct me if I am wrong but I thought Ad Velorem Tax was automobile.



That is exactly what I thought when I received mine in the mail yesterday.

#17 SusieQ404

SusieQ404

    Icon

  • Members
  • PipPipPipPipPip
  • 1,396 posts

Posted 11 September 2011 - 09:48 AM

If this is the Property Tax Bill, then why not just call it a Property Tax Bill, Instead of "Ad Valorem Tax Notice"????????

That's what I thought too. For a half a second, I thought they had found some new way to tax us and that this was in addition to the regular property tax bill. I did pull out last year's notice from 2010 and it looks just like this year's and also is titled Ad Valorem. I guess I never saw last year's notice and that's why I was caught off guard. While I'm glad my husband handles all of this stuff, I should probably pay more attention.

Edited by SusieQ404, 11 September 2011 - 09:49 AM.


#18 November Rain

November Rain

    Icon

  • Members
  • PipPipPipPipPip
  • 4,476 posts

Posted 11 September 2011 - 10:01 AM

I just got a 2011 Ad Velorem Tax bill. I have never gotten one before, or at least I don't remember one that I ever had to pay.

I receive this bill every year, my mortgage company pays it out of my escrow account. However, when I saw the bill, my first thought was that there had been a discrepancy with the used truck that I bought last month. ;)

Could somebody refresh my memory about the "sales tax roll back" that saved me $169.48? (This is in the middle of the bill on the left side, under Local Option Sales Tax Credit Information.)

#19 The Sound Guy

The Sound Guy

    Super Icon

  • +Member plus
  • PipPipPipPipPipPip
  • 6,714 posts

Posted 11 September 2011 - 08:25 PM

I receive this bill every year, my mortgage company pays it out of my escrow account. However, when I saw the bill, my first thought was that there had been a discrepancy with the used truck that I bought last month. ;)

Could somebody refresh my memory about the "sales tax roll back" that saved me $169.48? (This is in the middle of the bill on the left side, under Local Option Sales Tax Credit Information.)


One of the local Option Sales taxes (LOST) that was passed back in 1990 something I think was a property tax relief sales tax. All money collect by that sales tax is subtracted from the total property tax needed and cuts our property tax bills.

We should have 2 credits this year, the LOST and the ESPLOST paying the bond payments. Haven't seen my bill yet however to see if it started this year or not.

The only problem with quotes on the internet is that you can't authenticate them -- Abraham Lincoln

 

DISCLAIMER: The information and opinions expressed in this post are not necessarily the opinions of the author and may be denied or disregarded at a later date. Reading of this paragraph constitutes as agreement on part of reader not to hold author responsible for any damaging effects resulting from reading and agreeing with anything said in this post; furthermore reader waives all future claims resulting from changes in law which may render this disclaimer null and void. This disclaimer is valid in all states with the exception of those states which have laws forbidding the existence of this disclaimer, and in states where such laws exist the reader agrees to read this disclaimer in a state where this disclaimer is binding.


#20 The Postman

The Postman

    Walking Tall

  • +Member plus
  • PipPipPipPipPipPip
  • 43,399 posts

Posted 11 September 2011 - 08:48 PM

Pay your taxes early so the county can get the interest, until the tax deadline, instead of you. :unsure:
"The rich alone use imported articles, and on these alone the whole taxes of the General Government are levied. ... Our revenues liberated by the discharge of the public debt, and its surplus applied to canals, roads, schools, etc., the farmer will see his government supported, his children educated, and the face of his country made a paradise by the contributions of the rich alone, without his being called on to spend a cent from his earnings." ~ The Chief Author of our Declaration of Independence

#21 Lady Raider

Lady Raider

    Super Icon

  • +MPS extra
  • PipPipPipPipPipPip
  • 75,483 posts

Posted 12 September 2011 - 06:43 AM

we got ours saturday... ours came down some... and yes we noticed it stated Ad Valorem tax also instead of the usual Property tax.
"The most dangerous place in the world to be is "Between a Mother and her Child"

Posted Image


In Loving Memory of My Daddy and Mama
3-29-08
and 10-24-2012


*say what you mean, and mean what you say*

#22 PUBBY

PUBBY

    Super Icon

  • Admin
  • PipPipPipPipPipPip
  • 20,358 posts

Posted 13 September 2011 - 01:28 PM

It is not called a property tax bill because usually, if you have a mortgage that pulls an escrow account, then they will be the folks to pay the bill ... hence this is a 'notice' ... not a bill.

If you didn't get the notice because they only sent it to the mortgage company to pay, sometime or another, particularly in a time like this when home values are falling, the mortgage company might forget to recalculate based on the lower taxes due. At one time (before there was a law passed to force reporting and changes) the mortgage company would collect it and hold it and ultimately end up holding a substantial amount of money - possibly thousands - that they were earning interest on without paying you interest.

I will point out one more thing and direct it to the conservatives who would call others 'nanny state' folks. Since people whom you've loaned money for a mortgage company have passed your definition of being 'responsible' (or you wouldn't loan them the money) why do they collect an escrow account for insurance and taxes on the home?

The answer is simple. Despite the responsibility of the majority of mortgagees, there will always be some who for reasons unforeseen, fail to pay the insurance the day before the house burns or will lose it to taxes because a greedy neighbor paid theirs early and when they went to pay, were told nothing was owed. Ultimately after a decade, the slick neighbor would be able to make some legal claim on the property, or at least could under some state laws regarding payment sources of property tax. (There are always people out there gaming the system.)

pubby

#23 Incabiker

Incabiker

    Paulding Com member

  • Members
  • PipPipPipPip
  • 482 posts

Posted 13 September 2011 - 02:54 PM

Man... people are always kaniving to get money one way or another. I can't believe people do what is quoted below..

The answer is simple. Despite the responsibility of the majority of mortgagees, there will always be some who for reasons unforeseen, fail to pay the insurance the day before the house burns or will lose it to taxes because a greedy neighbor paid theirs early and when they went to pay, were told nothing was owed. Ultimately after a decade, the slick neighbor would be able to make some legal claim on the property, or at least could under some state laws regarding payment sources of property tax. (There are always people out there gaming the system.)

pubby



#24 Starr & Dru's Nana

Starr & Dru's Nana

    Super Icon

  • +Member Plus Black
  • PipPipPipPipPipPip
  • 17,129 posts

Posted 13 September 2011 - 04:51 PM

the mortgage company failing to pay the insurance when due is how we switched from State Farm to Nationwide. It was a good month after the insurance was due before we found out. Switched THAT day to Nationwide.

And Pubby, one cannot pay the taxes and get title to property. I believe Georgia has something like right of redemption and it along with some other measures prevent what you mentioned.

It is not called a property tax bill because usually, if you have a mortgage that pulls an escrow account, then they will be the folks to pay the bill ... hence this is a 'notice' ... not a bill.

If you didn't get the notice because they only sent it to the mortgage company to pay, sometime or another, particularly in a time like this when home values are falling, the mortgage company might forget to recalculate based on the lower taxes due. At one time (before there was a law passed to force reporting and changes) the mortgage company would collect it and hold it and ultimately end up holding a substantial amount of money - possibly thousands - that they were earning interest on without paying you interest.

I will point out one more thing and direct it to the conservatives who would call others 'nanny state' folks. Since people whom you've loaned money for a mortgage company have passed your definition of being 'responsible' (or you wouldn't loan them the money) why do they collect an escrow account for insurance and taxes on the home?

The answer is simple. Despite the responsibility of the majority of mortgagees, there will always be some who for reasons unforeseen, fail to pay the insurance the day before the house burns or will lose it to taxes because a greedy neighbor paid theirs early and when they went to pay, were told nothing was owed. Ultimately after a decade, the slick neighbor would be able to make some legal claim on the property, or at least could under some state laws regarding payment sources of property tax. (There are always people out there gaming the system.)

pubby


In loving memory of Mason (December 1, 2001 to December 9, 2001) and Ashley  Jr. (December 1, 2001 to December 2, 2001

 

n7C4m5.png

 

KBZ8m5.png





0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

Recent Topics Recent Topics