📬 Understanding Your Supplemental Tax Bill: Take Control and Thrive!

Imagine this: you check your mailbox and find something unexpected - a supplemental tax bill. It's not part of your regular property tax schedule and might feel like it came out of nowhere.

If you're scratching your head wondering what it is, you're not alone. The good news? You're in exactly the right place. As your trusted mortgage expert, I'm here to explain what it means, how to handle it - and how you can stay ahead of the game.

✅ And here’s the best part: it's usually a one-time thing.

🧾 What Is a Supplemental Tax Bill?

Think of a supplemental tax bill as a "bridge" between your home's old assessed value and its new assessed value. This happens when:

• You buy a new home

• You make major improvements (like an addition or remodel)

• The county reassesses the value of your property

Your regular property tax bill arrives on a set schedule - typically twice a year. But the supplemental bill is different. It shows up "off-cycle" to catch up on the difference between what the previous owner paid and what you now owe based on the new assessment.

Once this one-time bill is paid, your ongoing tax bills adjust accordingly. Simple!

🤔 Why Did I Get One?

It's all about timing - and a little paperwork delay at the county level.

When you close on a new home, the tax assessment doesn't update immediately. It can take months - or even up to a year. During that time, your lender may be collecting property taxes through your escrow account based on the previous owner's lower tax amount.

So when the supplemental bill finally arrives, there may not be enough money in your escrow account to cover it. And your loan servicer might not even know about the bill yet.

This is completely normal - and something I prepare all my clients for so it never feels like a surprise.

💡 What Should You Do?

Here's how to take charge of the situation:

1. Call your loan servicer as soon as you receive the bill. They'll explain your options, which usually include:

   • Option A: Pay the bill yourself, then work with your servicer to adjust future escrow payments. This keeps everything aligned moving forward.

   • Option B: Let your servicer pay it for you and recoup the difference by slightly increasing your monthly mortgage payment over the next 12 months.

2. Pro Tip: If you received an escrow refund from your lender after closing, don't spend it all just yet - it may have been based on the old (lower) tax rate. Holding on to that cash can help you cover this supplemental bill with ease.

Most counties send these bills about 6 - 12 months after closing, and once it's paid, your escrow will reflect the correct tax amount moving forward.

🤝 We're Here to Help - And So Are You!

Supplemental tax bills can feel like a curveball - but when you have the right guidance, it's easy to stay in control.

At First Capital Mortgage Inc., we're more than just a lender - we're your partner through every step of the homeownership journey. Whether you've already closed on your home or are just getting started, we're here to support your financial success.

🌟 A Small Referral Can Make a Big Difference

If you've had a great experience with us, there's one simple way to pay it forward:

If any of your friends, family, or co-workers are looking to buy, sell, or refinance, can I count on you to introduce us via text or email?

They'll get the same world-class service and guidance - and you'll be giving them a head start on a smooth and confident path to homeownership.