Property tax statement will be mailed out by Oct. 1
MOHAVE COUNTY – On May 3, , the Governor of Arizona signed Senate Bill 1033 (SB1033) into law which changes how property taxes are billed to owners with mortgaged properties. SB1033 deals with property that is valued by the county assessor and subject to taxation by the county treasurer. It is specific to mortgaged property and the mortgagee (lender/bank) pays the property taxes on behalf of the mortgagor (owner/borrower). What This Change Means To You Most lenders require taxes to be escrowed as part of loan agreements and handle payment of these taxes for the borrower. If you have a…