Property Taxes
Personal
Who Pays Your Property Taxes?
Desjardins Bank manages the payment of your property taxes through an escrow account.
A portion of your monthly mortgage payment is deposited into this account. The funds are then used to pay your property taxes and, in some cases, your homeowner’s insurance when they become due.
Using an escrow account helps spread these expenses over the year, rather than requiring a large payment once or twice annually.
Because property taxes and insurance premiums may change from year to year, the escrow portion of your payment—and therefore your total monthly mortgage payment—may be adjusted accordingly.
What Is an Escrow Account?
An escrow account is an account used to collect and hold funds for certain property-related expenses, such as property taxes and insurance.
Many lenders require borrowers to use an escrow account to help ensure these expenses are paid on time.
Your mortgage servicer manages the escrow account and pays these bills on your behalf when they are due. In some cases, escrow accounts may also be required by law.
Are you buying a new property?
Use the county estimator to calculate your property tax.
Palm Beach County
Instructions
- Enter the property address
- At the bottom right of the page, select "Property Tax Calculator"
