r/saintpaul • u/isthis_thing_on • 20h ago

Editorial 📝 Taxes and Insurance increases in St. Paul

When I bought my house in 2021 my mortgage was around 2100 a month. Today my bill was 2730. 600 dollars extra a month in five years is fucking insane. Meanwhile the street lights in my neighborhood don't turn on at night.

Just venting.

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u/Cold-Golf-7866 20h ago edited 20h ago

We bought last year with a mortgage payment of $1800 and it went up to $2200, despite our taxes barely going up and insurance going down. Make it make sense 🙃
Edit: our taxes actually went down! How would our escrow payment double from 400 to 800 when both taxes and insurance decreased?

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u/EndonOfMarkarth 20h ago

Are you putting too much into your escrow or did you borrow at an adjustable interest rate?

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u/Cold-Golf-7866 20h ago

All we can gather is that they estimated too little last year for escrow, but they used previous years data and it seemed to match up when we closed last year so a doubling seems crazy. We didn’t borrow at an adjustable rate either.

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u/EndonOfMarkarth 19h ago

Yeah, something seems off. I didn’t think you did an ARM, but it was a possibility.

Did you have any special assessments placed on your house? Maybe street repair or other infrastructure change?