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How is zillow estimating taxes when calculating monthly payments?

Profile picture for mbish24
I've looked at houses that list $6000 taxes paid in 2010.  But, the estimated taxes paid in a monthly payment section would list $1800.  Why is it $1800 per month when the real estate tax is $6000 per year?  Is there another tax that is included that I'm missing?
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February 10 - Columbia
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Answers (2)

Profile picture for riburn3
Zillow just uses a rough estimate of 1.5% I believe.   In the advanced options when using the calculator, you can adjust your tax amount.  I don't understand why they do this when they go through the effort to display the actual property taxes for the last several years on the property listing, but then don't use that number in their own calculators.  You would think it would be pretty simple to do. 
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February 10
Profile picture for Cindy Quinton
Well, I was just looking at a property that is listed for $139,000,  and it is listing the monthly tax portion of the estimated payment as $65. However the last year's taxes are $1,568...which would be at least $130.66 a month. So, I guess now I am wondering how Zillow is estimating this too, since it seems to vary. 
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February 10
 

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QuestionHow is zillow estimating taxes when calculating monthly payments?
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