My home was new construction. Will my real estate taxes change?
Most likely, yes. This is because your taxes were based on "unimproved land," meaning your taxes were determined by the value of the land your home was built on without a building or facilities.
Now that your home is finished, the taxing authority can fully assess your property (land and house), which will most likely increase the tax amount significantly. An escrow shortage may occur if the taxes being collected are not based on the estimated real estate property tax, so make sure you keep an eye on your escrow account.
