> ## Documentation Index
> Fetch the complete documentation index at: https://docs.pylon.mortgage/llms.txt
> Use this file to discover all available pages before exploring further.

# Property Tax Statements for Owned Property

> Provide current property tax statements for owned properties other than the subject property to accurately calculate housing expenses and confirm tax status.

## What this task is

This task collects **current property tax statements** for an **owned property that is not the subject property**.
The statements should show:

* The **property address**,
* The **tax amount due or billed period**, and
* Any **delinquencies, exemptions, or special assessments**.

These documents are used to determine the **tax component of PITIA** (see [PITIA](/entity-models/key-concepts/piti)) for each owned property other than the subject property and to identify any **tax-related risk**.

## When this task is required

This task is required when the borrower owns an **additional property that will remain after closing** (not Pending Sale or Sold) besides the subject property.

Examples include:

* A **departing residence** retained as a rental or second home.
* A portfolio of **investment or REO properties** where ongoing ownership costs must be included in underwriting.

## Why this task is required

Accurate property tax information is essential for:

* Calculating the borrower’s **total housing expenses** across all properties.
* Ensuring **debt-to-income ratios** reflect real-world obligations.
* Identifying any **tax delinquencies** or liens that might present additional credit or collateral risk.

If tax amounts are estimated or missing, the lender risks:

* **Understating housing expenses**, potentially overstating the borrower’s ability to repay.
* Missing **delinquent property taxes** that could jeopardize lien position or reflect financial stress.

## Documents needed to resolve this task

To satisfy this task, provide:

* The **most recent property tax bill or statement** for the owned property:
  * Showing **property identification**, **tax year or period**, and **amount due or paid**.
  * Indicating any **exemptions, abatements, or special assessments**.
* If the taxes are paid through **escrow**, you may also provide:
  * A **mortgage statement** or **escrow analysis** that clearly identifies the **tax portion** of the escrow payment.

These documents allow the underwriter to include the **correct tax expense** in the borrower’s total housing obligations and to identify any **tax-related issues** requiring attention.