First Half Real Estate Taxes Due Today
If you own land or real estate don't forget to get the payment in the mail today! Most homeowners do not have to be concerned about paying real estate taxes twice a year. Most home mortgages are set up by the lender with an escrow account. We pay a little extra each month and that money is used to pay the real estate taxes and the insurance. It is a nice service provided to homeowners. I suspect the real reason escrow accounts are set up is for the lender to know the taxes and insurance will be paid.
Louise and I get hit pretty hard with real estate taxes because we live in Faribault and do not get the homestead credit. I was wondering if maybe the deadline for paying the first half of real estate taxes would be delayed because of COVID-19 but I have not heard any news indicating they would be. I guess the County Governments and schools still need money to operate! So, get your real estate taxes in the mail today and avoid the penalty! For homestead land it is 2 percent and non-homestead it is 4 percent.