Your house payment will always go up regardless of a levy or not! Your property value increases with the market and since property tax is calculated as a percentage of your property value, it will continue to go up. Insurance is calculated based on the cost to rebuild your home in the case of a fire or some other disaster. As inflation affects the cost of materials and labor, your insurance will continue to increase. If you are unlucky enough to have an ARM loan, the recent spike in interest rates will also drive your payment up.
Every time you guys have this levy crap my house payment goes up! And its bullshit that only people who own property pays for these levies!
Your house payment will always go up regardless of a levy or not! Your property value increases with the market and since property tax is calculated as a percentage of your property value, it will continue to go up. Insurance is calculated based on the cost to rebuild your home in the case of a fire or some other disaster. As inflation affects the cost of materials and labor, your insurance will continue to increase. If you are unlucky enough to have an ARM loan, the recent spike in interest rates will also drive your payment up.