Why has my Escrow payment gone up?

Our office often receives questions about escrow accounts.  Generally, it is the practice of title companies to estimate initial escrow figures based on the last available tax bill.  If there is a substantial increase in value since the previous year and the title company based its estimate on the lower value, it can create an escrow shortage.  Another example would be:  suppose you bought a newly-built house in 2021. The tax assessment on the property for 2020 may only take into consideration the land value. But, when the property is assessed again, it will include the land value plus the value of your home, which will increase your property taxes and, as a result, increase your escrow payment.  For information regarding your particular escrow account, please contact your lender directly.  (Please note that taxes and bills are handled by the Sheriff’s Office.)  


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1. How do they come up with an assessment?
2. Why did my assessment go up this year?
3. Why does the person down the street with all the land have a lower value than mine?
4. If I buy property after January 1, when will I get a tax bill?
5. Why can't I appeal my property value when I get my tax bill?
6. What is the tax rate of an address?
7. I bought my house in July for less than what the tax bill says. Why do I have to pay the higher amount?
8. My neighbor next door gets a reduction in his taxable value. Why don't I?
9. What is the amount for the Homestead / Disability Exemption?
10. Can I get the Homestead/Disability Exemption for commercial property?
11. Will I still be eligible for the Homestead Exemption if I’ve put my property in a Trust?
12. Why has my Escrow payment gone up?