2016 Boulder County Property Taxes are paid in arrears
First, a quick reminder that if your mortgage holder/servicer does not collect money each month in addition to your principle and interest payment, then they are not paying your 2016 Boulder County property tax for you and you need to make that payment yourself.
In Boulder County, the first half of your 2016 Boulder County property tax is due February 28th, 2017. The second half is due by June 15th, 2017. If you don’t have a mortgage because you either paid cash for your property or have since fully paid the loan back (well done!!) then you are responsible for paying the county, directly.
Some loans allow the homeowner to pay taxes themselves but most will collect extra money each month to pay for your real estate taxes and insurance. They are protecting their interest in your property by doing so. If you fail to pay your property tax, the county will put a lien against your house and it could bump your lenders lien position to 2nd place. IE: In the event of foreclosure and subsequent sale of your property by the Public Trustee, the taxes get paid first and left over money is used to pay the mortgage holder. Like all of us, they hate coming in 2nd if 1st place is possible!
2016 Boulder County property tax payment reminder/invoice
Boulder County send out notices this week to homeowners. A reminder to pay 2016 Boulder County property tax, how much is owed, payment due dates and 1st and 2nd half payment coupons. If you received this and your lender/servicer pays taxes, then feel free to throw this away.
If you are a control freak like me and want to be sure that the lender IS paying your 2016 Boulder County property tax on your behalf like they are supposed to, then you have a couple of ways to check up on them.
- Either login to your online mortgage account and look at the escrow page to be sure that the amount that was deducted in February matches the notice you were sent or;
- Look your property up at the Boulder County Tax Assessor Website and verify that payment was received. to do this, click the link then look for “PROPERTY SEARCH” on the far right column near the very bottom. At the top of the next page in the search box, type your address (just number and name of street). It will take you to a page that is all about your property. Click on the PROPERTY bar, then on the blue box labeled TAXES. This page has an inquiry area… You can click to display either the full amount or the first half amount. When paid, then page will reflect the amount received and amount still owed.
If I was your Buyers Agent and you are confused about who pays your taxes and when, then feel free to call me.
I will figure it out for you and confirm with you when taxes have been paid. No worries!
Selling your property before June 15th, 2017?
You will still need to pay the first half by February 28th, unless your closing is scheduled BEFORE that that. Don’t worry about paying the full amount yet though. At closing the title company will pay any outstanding 2016 Boulder County property taxes to the county on your behalf, from the proceeds of the sale. They will also calculate the amount of 2017 Boulder County property tax that would be your responsibility and collect that from you and give it to the buyer.
For instance, your annual tax bill is $4000/year. You owned the house from January 1st, 2017 to June 30th, 2017 (closing date/sale date). They would calculate that about half of 2017’s taxes are your responsibility, then have you credit the buyer about $2000 at closing. The buyer (new owner) would then be responsible for paying the whole years taxes in early 2018. The settlement is final and if taxes go up or down (unlikely!) then the buyer cannot come back to your for more money in 2018 and you could not ask the buyer to refund you the difference in 2018.