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New Lower Taxes

November 12th, 2013 at 02:59 pm

When we bought out house it was rented out. So we didn't get the owner occupied tax credit last year. Our taxes were nearly double what we should be paying on a old farmhouse. Today I went and got our new tax estimate because the bank is re figuring our escrow amount for the coming year.

I'm happy to report that the taxes will be even lower than I expected. Saving us nearly $50 a month starting in January.

I think I will continue paying the mortgage at the same rate. That will curb my itch to prepay a little, and I'm not missing that money now so I see no reason to take it and spend it. Plus I'd really love to get our mortgage down to $50,000 before we refinance and with an extra $50 that might just happen!

Today I also paid back my small loan to my mother. So now all my money can focus on our Emergency Fund.

Oh happy day!

As a side note... Brrrr. It's cold here. It was in the sixties last night before bed. This morning it's a chilly 25 degrees, and super windy. Good ol' Midwestern weather.

1 Responses to “New Lower Taxes”

  1. creditcardfree Says:

    Great news and plan for the tax money!

    It was 12 degrees here this morning. The snow that fell on the grass has not yet melted off, although it will in a day or two when temps rise again. I'm enjoying the snow cover actually. Smile

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