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Descant · 12-30-2021, 04:41 PM

Fred W, welcome to the Forum.
These tax questions come up here routinely, with the same misunderstandings repeated routinely. The key in this one, and I'm amazed it took 41 posts to get to it, is exactly what Tummyman said. You're going through a transition year to move from a calendar year to a fiscal year. Only a handful of towns have done this.
If you have a mortgage and escrow your taxes, your February escrow recalculation will put everybody in a tizzy again when the banks computer wants to raise your monthly tax escrow. It would be nice if the Town Selectmen would generate a form letter that you all could send to your respective mortgage servicing companies. Or, DRA may already have such a letter from previous towns going through this evolution.

Thanks to Tummyman for a great explanation.

12-30-2021, 04:41 PM	#44
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,032 Thanks: 1,211 Thanked 1,511 Times in 983 Posts	Welcome; Escrowing taxes? Fred W, welcome to the Forum. These tax questions come up here routinely, with the same misunderstandings repeated routinely. The key in this one, and I'm amazed it took 41 posts to get to it, is exactly what Tummyman said. You're going through a transition year to move from a calendar year to a fiscal year. Only a handful of towns have done this. If you have a mortgage and escrow your taxes, your February escrow recalculation will put everybody in a tizzy again when the banks computer wants to raise your monthly tax escrow. It would be nice if the Town Selectmen would generate a form letter that you all could send to your respective mortgage servicing companies. Or, DRA may already have such a letter from previous towns going through this evolution. Thanks to Tummyman for a great explanation.