Anyone else noticing large rise in real estate taxes & insurance costs?
Just checking my yearly expenses as they are higher than I estimated. Turns out real estate taxes for one property are 16%!!! higher than just last year, several others up over 7% from last year, largest yearly increase since I've owned them. Looked back at my property insurance rates, one is up over 20% !!!! from last year's premium, others over 10%. I've been used to and planning on 2-4% increases in these expenses. Guess I'll be shopping for new insurance. Too bad you can't shop around for lower real estate taxes. I knew the mortgage company would be making more money than I was on these properties until I paid them off, but looks like the city and the insurance company are getting ahead of me now, too.