COVID-19 has affected each of every one of us, but there is a lot of conflicting information about how your property tax bill will be impacted by the pandemic. Watch our Trey Rome, our CEO & Founder, as he discussed how to help you sort through all the misinformation.
Increased home values property taxes
2020 has been a crazy year. When COVID-19 happened and we all got locked into quarantine,
none of us really knew what was going to happen. The wild thing about this is the single
family residential real estate market has taken off. A lot of the reason for that is a lot of folks
realize that they could work from home and they don’t have to be close to work.
They don’t have to go into the office. So a lot of these folks are going to these Suburban areas, buying
homes and spreading out. As a result, you know home values have increased and with that
so have property taxes. When you layer that on to the fact that a lot of folks are struggling
because they’ve been furloughed and they’ve had some issues at work. It creates a problem
where they’re going to have to pay their property taxes, and they may not have the money to do
that. And so coming to a property tax lender could be in their best interest when it comes time
for taxes to be due next year.