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Property Taxes
How do I obtain tax bills? 

SunTrust uses the services of ValuTree Real Estate Tax Service to obtain all tax bills, except in certain "homeowner states." ValuTree obtains bills on magnetic tape or paper directly from the taxing authority and forwards that information to SunTrust for payment. Although ValuTree is responsible to SunTrust for obtaining this information, you should forward any tax bills you receive to SunTrust.

Please write your loan number on your tax bill and send it to:

SunTrust Mortgage
Attention: Tax Department
P.O. Box 85188
Richmond, VA 23285-5188

If you receive a bill marked "COPY" or "FOR YOUR INFORMATION," you do not need to send these memo bills to us.

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Does SunTrust take advantage of early payment tax discounts?

Yes. We are required to by federal law.
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What does the term "homeowner state" mean?

A homeowner state is a state in which the taxing authority issues the tax bills directly to homeowners, not to lenders. Currently, the states of Colorado, Pennsylvania, Louisiana, and Wisconsin are homeowner states.
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How does a homestead exemption work?

Homestead exemptions allow homeowners an exemption of a certain determined value on their property tax assessment when the borrower on the mortgage actually lives in the house. Not all states have homestead exemptions. To apply for a homestead exemption, you need to submit an estimated tax bill to your taxing authority for review or adjustment.
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What are supplemental tax bills?

Your local taxing authority will issue a supplemental bill for an additional tax due when the current value of your home is more than the previous assessed value on which the original tax was based. This bill is sometimes issued after the property has been purchased or refinanced and is generally paid directly by you as the homeowner. However, if there is a sufficient excess in your escrow account with SunTrust Mortgage to cover the total payment of your tax bills at the first installment due date, then SunTrust Mortgage will pay the supplemental tax bill for you out of your escrow account. If we do not have the full amount due but have excess funds in your escrow account, we will release the excess to you to help you pay the supplemental bill.
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Mortgage products are provided by SunTrust Mortgage, Inc. View our licensing agreement.

 
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