TheTwinAndreBen
3 stacks
Im just trying to halp out my tax challenged deac brothers. Dnt worry Im going all in on filthy mormons on the CT too.
Municipalities being what they are, your taxes could be under appeal for months or over a year, and the lender's policy will still be to hold your money until the appeal is resolved. You can characterize that any way you want, but if you dont have a lender escrow account, you dont have that problem. You won't lose the money, but again, if we are talking thousands of dollars I'd rather keep that money in my account, since its mine and all.
Don't you still have to pay the higher tax while it's under appeal?
No, the tax authority usually adjusts it to a 70% value once appealed and they settle up with you after depending on the results.