I subscribe to Money magazine (free with Coke points) and in each issue, I find something helpful.
(I can hear you all groaning)…
If you do yours separately from your Mortgage payment (Mortgage+taxes+insurance), pay them this year-why?
To reduce your taxes.
Let’s say you live in downtown Houston and pay $10,000/year in property tax on your little condo. Yes, really, they are very high here.
You get back a % of that tax from the federal government.
Wait. Not ALL of it?
$10,000 property tax
You get back (or as a credit) your earned income tax rate bracket * property tax.
20% = $2,000
30% = $3,000
40% = $4,000
So, perhaps you owe $6,000. At 30% tax bracket, you now only owe $3,000.