should I sell this property?

[Carmichael Lewis]

BP, I just got wind my taxes has spiked. My mortgage jumped from $300 to $900. I had a shortage in escrow last year i had to pay 3k. The same shortage happened again this year. This is a dent on my return. Wondering if its worth keeping or selling property and move on. Btw I paid 35k for property its being rented for 1,300 a month. Would love to hear your thoughts. Thanks!

[Samuel Pavlovcik]

@Carmichael Lewis,

Double check this was not a mistake made by the City! I had that happen to me a few years back when there was big news about a lot of neighborhoods fearing dreaded tax increases of up to 50%. When I received my tax bill it was nearly 10X the amount I was paying before! As it turns out, the city "Accidentally added" an extra "0" in their system when entering the property value... After I fought it to have it fixed (Which was surprisingly easy) my taxes actually went down; even though I know my property value has been increasing over the past years... Going from 35K to 50K in value should not make anywhere near that much of a difference in your taxes. Something is definitely wrong here, make sure you don't lose out on a good cash-flowing property due to an error! At this rate they may owe you some money back...