K Taxes
Property taxes, (state and local assessments on the structure or the property itself, billed separately from the mortgage), are ALLOWABLE shelter expense deductions for NA, and affect the CA payment standard.
 
NOTE Average these expenses over the number of months the bill is intended to cover, no matter how long the approval period is or when it started. (See Averaging Expenses) (See Example Taxes)
 
For procedures regarding verification of taxes, see Shelter Expense Verification.
 
 
Key the expense on EXPC using the TX Expense Code.