Semi-monthly payments

Bi-Monthly payments (Also called semi-monthly payments by some financial institutions.)are made twice a month, usually on the first and the 15th of each month.

With this payment method you make a total of 24 equal payments. As with the monthly payments, the payments include principal and interest repayment.

If you opted for your financial institution to pay the property taxes for you, your payment will also include a monthly portion set aside for property taxes.

The alternative to the bank deducting your property taxes, is to enroll in your city’s TIPP Program. Wth the TIPP Program, the City will deduct 12 equal payments from your bank account to cover your annual property taxes, much the same way that your financial institution would do it.

The benefit of the TIPP program is, that if you decide to change financial institution, you won't have concerns about transferring the property tax portion to a new financial institution. The City will continue to make the necessary monthly deductions toward your annual property tax.

Learn a lttle more about other payment options, before settling for semi-monthly payments.

You may find another payment plan that is better suited for your situation.

If you would like to speak to one of our professionals before making a decision, please contact us, for a no-obligation consultation.

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You Say Semi-Monthly, I say Bi-Weekly

You Say Semi-Monthly,
I say Bi-Weekly