What is a Property Tax Statement?

This statement provides detailed information about the property taxes associated with your home. It outlines the assessed value of your property, the applicable tax rates, and any outstanding tax liabilities. Essentially, it serves as a comprehensive snapshot of your property’s tax status, crucial for both homeowners and lenders alike.

Why do lenders require Property Tax Statements?

Lenders need your property tax statement for several reasons. It helps assess your property’s financial health and your ability to meet tax obligations, influences loan-to-value ratios and interest rates, facilitates escrow account management for timely tax payments, and ensures compliance with regulatory requirements.