It may not be possible to give an overall average savings. There are too many different bond amounts and too many homes to calculate it. Still, your person could do a better job of answering your question.
For just a general ballpark use an annual payment of $1,800 with 15 years left for a total amount of $27,000.
NOTE: the amount will be less in the north and far more in the south.
It is easy to determine an exact amount for any home: - - Use the address of the home to find the most recent tax bill
- - Look for the bond line in the lower section. If it is not $0 then you can challenge the statement that it has been paid off
- - The tax bill will show the Section number for the home
- - Use the Section number to find the bond amortization schedule on districtgov.org
- - If the bond is not paid off then you have the choice of paying the current balance or the remaining annual payments. THAT is the savings on a home with the bond already paid.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
Last edited by Bill14564; 11-26-2023 at 07:13 AM.
Reason: Bad math
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