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HOMEOWNERS URGED TO CHECK TAX CUTS IN MORTGAGE

Homeowners have been advised to check with their mortgage carrier to see if the appropriate tax reductions have been applied.

David C. Sharpe, Republican candidate for receiver of taxes, said some homeowners are not getting the reduction in property taxes that was approved for 1997.

Homeowners in the town received a reduction that averaged about $180 per home this year which would have reduced monthly payments by about $15, he said.

"My door-to-door canvassing has revealed that the reduction has not been passed on to the homeowner in some cases," Sharpe noted in a written announcement.

He said while most area banks have been excellent in their adjustments, some mortgage companies have not.

He advised homeowners who have not seen a reduction to inform their mortgage carrier of the reduction and to request an adjustment.

In addition, homeowners also should inform their carriers about the anticipated tax break in 1998, he said. Most mortgage companies program their computers to increase taxes every year to ensure the escrow tax accounts remain fully funded, he said.

Wheatfield is "confusing the computer" because taxes are being reduced instead of going higher, according to Sharpe.

This year, homeowners received a tax reduction of about $159 per home, exclusive of school property taxes, according to town officials.

The proposed budget for 1998 reflects an additional tax break of about $30-40 per home, they said.

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