does escrow account pay property taxes

[GraceMarie]

Yes, a mortgage escrow account pays property taxes; it collects a portion of your monthly mortgage payment to hold in an escrow account and then uses that money to pay your property tax and homeowners insurance bills when they are due. This system helps homeowners by breaking down large annual or semi-annual bills into smaller, more manageable monthly payments. While many lenders require this setup, some may allow you to pay taxes and insurance yourself.