Certain homeowners across Fayette County may have noticed a much larger increase in their mortgage payments recently. This likely has nothing to do with a big insurance premium increase, or interest rate adjustment, or higher property tax assessment.
“What happened is; in ‘22 and ‘23 we had two separate property tax bills in the same year,” said Fayette County Property Valuation Administrator, David O’Neill. “It happened because in both years they were tax rate increases that went above the 4% that a district is allowed to take without it being subject to a petition or recall,” he explained.
But that difference was only a few bucks in most cases, so the difference was added to a second bill later in the year, just ahead of the new year. That led to all kinds of confusion for the mortgage servicing companies…