I bought the condo in Jersey City, NJ and received the mortgage interest statement from the lender.
Line 10 Other " real property taxes paid $500.
In the comments section indicates Escrow Reconciliation
$... - beginning balance
$... - deposits
$... - hazard ins [aid
$500 - tax bills paid
$10,000 - Land Improvement
$... - ending balance
I received the letter from Jersey City, 2021 abatement service charge liability
2021 second half service charge liability (payment in lieu of taxes) : $5,000
My question is property tax in TT is sum of 500 and $10,000 ? What is Abatement ?
