Why weren't the property taxes on the house next to mine paid by the owner?
The house next to mine is a 5-unit apartment. I know who owns it, but while I was looking at the local online tax roles, I noticed the recent property taxes were paid by Wells Fargo.
- SlumlordLv 74 months agoFavourite answer
If the owner has a mortgage, then the bank might escrow the taxes and them pay them from the escrow account. Banks do this to make sure the taxes are paid to protect the money they are owed - its standard practice.
- Christin KLv 74 months ago
They might have been added to the payments on the property. The person who pays the taxes is NOT always the owner of the property. It can also be an agent, or financial institution.
Well Fargo may also have bought the tax lien on the property. This means that when back taxes are owed, someone or some institution can "buy" the tax bill, pay it, and then try to collect from the owner. The owner doesn't change, but the taxes get paid by someone else. In order to pay those back taxes, the institution may try to foreclose on the property for payment. Buying tax liens means that the buyer has to do the collecting, instead of the city or county.
- babyboomer1001Lv 74 months ago
Then Wells Fargo owns the property.
- Anonymous4 months ago
Go and ask him
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- ScottLv 74 months ago
Because Wells Fargo holds their mortgage and paid their taxes from an escrow account.
- 4 months ago
Mortgage companies always pay the property taxes..... because frankly people can't be trusted to pay their bills, and a property tax lien is a primary lien..... meaning if the county foreclosed on it, the bank's lien is secondary.
- TavyLv 74 months ago
It will be tied into their mortgage, they don't pay it seperatley.
- Anonymous4 months ago
What makes you think they weren't?
Most likely the owner has a Wells Fargo mortgage and the funds are coming from their mortgage impound account.
By the way, counties don't keep track of where the payment comes from. They keep track of where they are supposed to send the tax bill.
- Ranchmom1Lv 74 months ago
With our mortgage, our house insurance and property taxes come out of our mortgage payment, so the bank pays them.
- LiliLv 74 months ago
It may be that the person you think owns the building defaulted on the mortgage.