Here is an Ounce of Prevention - Real Estate Investing Today

Abstract

Investors who own properties that are free and clear are sometimes not receiving their tax bills from the county because they are being sent to the wrong address. Go to the website for the county auditor or tax assessor where your properties are located and double check the listed tax mailing address for each one. If there is a mortgage on a property, make sure the tax bill is being sent to the correct servicer. If the property is free and clear, make sure it is being sent to the correct address to make payment. If the property is held in a trust, make sure the tax bill is being mailed to the address for the trustee. I recommend you put a reminder on your calendar every six months for you or a team member to go online and check the real estate tax status of each property just to make sure the county has accurately recorded your tax payments. In an upcoming post, I will talk about trustees and the importance they play when you use a grantor revocable title holding trust to hold title to your investment properties.