New county property tax assessments are hitting mailboxes, and many homeowners are seeing increases of 10 to 15 percent.

Even if your mortgage rate has not changed, your monthly payment still can.

Why this matters

If your mortgage includes an escrow account, property taxes are paid through that account. When taxes go up, your escrow balance may no longer have enough cushion.

That can lead to:
• A higher monthly payment
• An escrow shortage
• A surprise increase after your next escrow analysis

Most homeowners do not see it coming until the payment changes.

What you should do now

Take a few minutes to review your new property tax notice as soon as it arrives.

If your taxes increased, send the notice to your lender right away. This allows them to adjust your escrow account before your next analysis instead of reacting after the fact.

A quick check now can help smooth out future payments and avoid sticker shock.

Who this impacts most

• Homeowners with escrow accounts
• Buyers who purchased in the last one to two years
• Anyone in areas with rising property values

This is especially relevant for homeowners across Salt Lake City, Sandy, Draper, and Utah County, where values have increased steadily.

The takeaway

Property taxes can change even when your mortgage does not. Staying proactive gives you more control and fewer surprises.

If you are unsure how your tax assessment affects your payment, I am always happy to take a look.

I’m Ken Martello, your trusted loan officer at Canopy Mortgage, helping homeowners stay ahead of payment changes and mortgage updates.

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