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Will canceling mortgage insurance boost my property taxes?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

DEAR BOB: Thank you for the article on your Web site about getting rid of PMI (private mortgage insurance). Upon my request, my mortgage lender sent me the paperwork to cancel my PMI payments of $72.56 per month. I have owned my home about eight years. However, I am concerned the lender's appraisal will cause my property taxes to go up. Or should I leave everything alone and continue paying PMI? --Geri S. DEAR GERI: You are worrying about nothing. A mortgage lender's professional appraisal of your home has absolutely nothing to do with your property tax assessment. Go ahead and get your home appraised by the lender's appraiser. Purchase Bob Bruss reports online. Only the local tax assessor -- not a licensed appraiser hired by your mortgage lender -- can reassess your property. If you have been paying PMI on your mortgage for eight years, you probably have at least the required 20 percent equity to get rid of that nasty and expensive PMI premium. AFTER DAD DIES WITHOUT A WILL, PROBA...