Pro forma expenses double counting property taxes due to mortgage escrow

Setup & Support
1

Hey everyone, I’m new here. Getting my single unit townhouse set up on Stessa.

On the Property Details page, the spreadsheet for the Monthly Expenses has a dollar amount for my estimated property taxes. The problem is that property tax amount is already included within the mortgage fee so I believe it’s throwing off my numbers/reporting because the property taxes are being counted twice per month.

Mortgage is $1781
Property Tax (per month) is $442, but that’s already taken into account in the $1781

How do I remove the extra $442 from being calculated without removing the assessed tax value?

I hope this made sense. Please ask me questions for clarification!
Thanks!

extraproptaximage
extraproptaximage1995×715 122 KB

1 Like
2

You can edit the mortgage info. by checking the box that includes property tax

Click on the link below

Property tax

3

@stoneviewinvest Yes, @marceldcosta is correct. You’ll just need to check the box on your mortgage details to let Stessa know that your mortgage payment amount already includes an escrow for property taxes.

4

@devin picking this topic back up, once it is included, the issue I run into is that the pro forma has it calculated into it but the actual does not if you break down the mortgage payment and categorize between principal, interest and escrow payments.