![]() ![]() Typically mortgage companies will ask homeowners to make up this shortage as a lump sum or divide it out over the year. Homeowners who escrow their tax payments with their mortgage companies may find that they have an escrow shortage in 2010 after the mortgage company pays the tax bill. It will always be paid upfront even though it is a tax. For the most part, that is still true however, the Township Tax which replaces the HOA assessment is paid upfront for the coming year. This means that when you get a bill at the end of 2009 and make your tax payment (even if after the first of the year 2010), it is for the taxes that accrued in 2009. ![]() Typically property taxes are paid in arrears. Most Woodlands residents know this information, having read it and having received their current tax bills. The Township’s property tax levy will replace the assessments of the Community Associations of The Woodlands. The 2010 budget will consolidate the services of the Community Associations of The Woodlands and The Woodlands Township under one operating structure effective January 1, 2010. The Woodlands Township adopted a property tax levy of 32.8 cents per $100 of taxable value. However, I do have a little insight I hope to share with current residents regarding the new tax. Many residents of The Woodlands may be confused at the new township tax and I certainly don't pretend to know all the answers.
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