Comments by "BaltimoreAndOhioRR" (@BaltimoreAndOhioRR) on "I Just Paid Off My Student Loans Completely (Huzzah!)" video.
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@1685Violin I don't know you came up with that, but in my state, and everywhere other state I know about, having a mortgage has zero effect on your taxes. The taxes are a set amount, usually derived by the property's worth, its size, sometimes fixtures, etc...
A mortgage generally will collect 1/12 of the estimated yearly taxes from you every month you pay your martgage bill. Then the mortgage company will pay the tax bill when it's due. If you pay off the mortgage, when the tax bill comes, YOU will have to pay it now, out of pocket. But you were still paying for it when you had a mortgage with monthly payments. And the amount of it hasn't changed.
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