I Honestly Can’t Say This Is Surprising

Money-house

So as the follow up to the story about my house being broken into (http://thomasquinlan.com/paying-taxes-is-supposed-to-get-us-something) I got my mortgage statement today from Bank of America.  My mortgage payment is going up $200 a month because my escrow balance has apparently gone down to the point where they have to start collecting more money.  This is a projection they’ve sent me that will start in April.  As it turns out, I do pay city taxes separately, and in addition to school taxes – the school taxes for 2010 were just under $1740 for the year.  The city taxes were $2045 for the year.  So of the taxes I paid on my house in 2010, 54% of them went to the City of Binghamton, for which I got nothing in return.  (I still don’t even have a copy of the police report!)

The projection for the taxes for this year is interesting: $1740 for school taxes, and $2770 for the City of Binghamton for the year.  Yes, that’s right, my City of Binghamton taxes are going up $725 dollars, or an increase of about 35%.  So, while the efforts of the City at providing youngsters with quality education will remain unchanged, efforts at police vigilance and other fine City services that I don’t get will cost me 35% more.

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