Quote:
Originally Posted by DARFAP
Check your property taxes. The bond is paid as an ad valorum with your taxes. It is not part of your financed mortgage payment. There is no interest on it.
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The term "ad valorem" means "based on the value of your house". The bond is not based on the value of your house, so it appears on the "non-ad valorem" section of your tax bill. You can look up your amortization schedule on "districtgov.org". The payments include interest and an annual administration fee. If you itemize tax deductions, non of the "non-ad valorem" payments are tax deductible if your house is your primary home.