Property Tax Escrows For High Point Mortgages

Did your monthly mortgage payment jump after a High Point reassessment? You are not alone. When Guilford County updates assessed values, your mortgage servicer often adjusts your escrow to cover the new property tax bill. That can create a surprise shortage or a welcome overage. In this guide, you’ll learn how tax escrows work in High Point, what to expect after a county revaluation, and how to audit your annual escrow statement so you can plan with confidence. Let’s dive in.

What your escrow covers

An escrow account collects a portion of your property taxes and insurance with each mortgage payment. Your servicer holds those funds and pays the bills on your behalf when they come due. This helps you avoid missed deadlines and penalties.

Servicers must complete an annual review of your escrow and send you a statement. The statement shows last year’s activity, projected bills for the next 12 months, and whether your account has a shortage or an overage. It also explains your repayment options when a shortage exists.

How High Point taxes flow into escrow

Guilford County issues property tax bills and provides billing data to owners and, in many cases, to mortgage servicers or their tax vendors. Your servicer will either receive the bill directly, pick it up through a vendor, or ask you to provide a copy.

For projections, servicers typically use the most recent actual tax bill. If a revaluation or rate change is expected, they may project the next bill using the updated assessed value and the latest adopted tax rate. Exact billing schedules, installment options, and penalties are managed by the county, so it is smart to review the Guilford County Tax Office calendar for current timelines.

After a county revaluation

When Guilford County completes a revaluation, you receive a notice of your new assessed value. Servicers use that data once tax bills are finalized. If the new assessment pushes your projected taxes higher than what your escrow is funding, the next annual escrow analysis will likely show a shortage and an increase to your monthly escrow portion.

If you appeal your assessed value and the county later reduces it, the servicer will adjust in a future analysis. That can lead to an overage that is refunded or credited, according to the rules in your annual statement.

Shortages and overages explained

A shortage happens when your projected disbursements, plus any allowed cushion, exceed your current escrow balance. Federal rules allow servicers to keep a small cushion, often up to two months of escrowed charges, to cover timing gaps.

If you have a shortage, you typically can:

• Pay it in a lump sum to keep your monthly payment lower, or
• Spread it over 12 months, which increases your monthly escrow portion.

An overage occurs when your balance is higher than needed. If the surplus exceeds the servicer’s refund threshold, you should receive a refund or a credit to future payments, as explained in your statement.

Simple example: estimate the impact

Here is a simplified illustration to show how a change can affect your payment:

• Projected annual property taxes: 2,400 dollars
• Allowed cushion: two months of disbursements, which equals 400 dollars
• Current escrow balance: 300 dollars

Required target: 2,400 plus 400 equals 2,800 dollars. Shortage: 2,800 minus 300 equals 2,500 dollars. The target monthly escrow portion is 2,800 divided by 12, which equals about 233.33 dollars. If you spread the 2,500 dollar shortage over 12 months, add about 208.33 dollars to the monthly escrow portion. Your actual change depends on your servicer’s starting escrow amount and options.

Step-by-step: audit your escrow

Use this checklist to confirm your annual escrow analysis is accurate.

1. Gather documents

• Annual escrow statement and full escrow account history from your servicer
• Last 2 to 3 years of Guilford County tax bills and any paid receipts
• Your mortgage note or deed of trust showing the escrow clause
• County revaluation notice and any appeal documents

2. Verify the tax number used

• Look at the projected tax disbursement in the escrow statement.
• Cross-check it with your latest Guilford County tax bill, assessed value, exemptions, and the adopted tax rate.

3. Confirm prior-year activity

• Match your monthly escrow deposits to the ledger of payments the servicer made to the county.
• Watch for missing or duplicate disbursements.

4. Check the cushion and refund

• Identify the cushion amount included and confirm it aligns with what your servicer allows.
• If the analysis shows a surplus above the refund threshold, confirm how and when you will receive it.

5. Review shortage options

• If there is a shortage, confirm whether you can choose a lump sum or a 12‑month spread.

6. Verify payment timing

• Confirm when the county tax was paid and that the amount matches the bill.

7. Dispute errors promptly

• Send your servicer copies of tax bills, receipts, or appeal decisions and request a correction in writing. Keep all records.

If you paid the county directly

If you paid Guilford County taxes yourself and your servicer also plans to pay, send proof of payment and your parcel number to the servicer immediately. If the servicer has not disbursed yet, they should hold payment. If both payments are made, the servicer will usually coordinate a refund or apply a credit after confirming with the county.

Common red flags to watch for

• The servicer used an outdated tax amount or missed an exemption you have.
• A duplicate tax payment appears in the ledger.
• A surplus above the refund threshold is not refunded or credited as stated.
• Timing issues after a successful appeal are not corrected in a future analysis.

Plan ahead in Guilford County

Revaluations can increase escrow requirements. Use these steps to stay ahead:

• Review the county’s revaluation notice as soon as it arrives and note the appeal deadline.
• Ask your servicer how the new assessment will be handled in your next escrow analysis.
• Decide whether to appeal your assessed value, and follow county procedures and timelines.
• Budget for a higher monthly payment or set aside cash to pay a possible shortage in one lump sum.
• Keep copies of paid tax receipts and share them with your servicer if you pay the county directly.

When to escalate or get help

Start with your servicer’s customer service and loan servicing teams in writing. If your issue is not resolved after you provide documentation, consider contacting the appropriate county office for billing questions or filing a consumer complaint with federal regulators that oversee mortgage servicing.

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FAQs

Will my High Point mortgage payment go up after a revaluation?

• If your reassessment raises projected taxes and creates an escrow shortage, your servicer’s annual escrow analysis will usually increase the escrow portion of your monthly payment and explain your repayment options.

Can appealing my Guilford County assessment lower my escrow?

• A successful appeal can reduce future tax bills and lower escrow needs later, but your servicer must fund escrow based on current bills until the county issues revised amounts or refunds.

What are my options if I have a large escrow shortage?

• Servicers commonly let you pay the shortage in a lump sum or spread it over 12 months, which raises the monthly escrow portion; see your annual statement for the choices available to you.

What if my escrow shows a surplus after the analysis?

• If your surplus is above the servicer’s refund threshold, they typically must refund the overage or credit it to your account, as stated in the annual escrow statement.

Who should I contact if I suspect an error on my escrow statement?

• Contact your servicer in writing with copies of your county tax bill and any receipts; if unresolved after their review, escalate through their customer service process and then to the appropriate regulatory channels.