It's that time of the year when my mortgage company sends out the annual escrow disclosure statements. I was kind of bracing myself when some of my friends and family in the area said their mortgage payments were going up next year. Still, I was floored when I opened my disclosure statement and saw that my payments next year would be going up a whopping 27%. Why, you might ask? After all, I have a fixed interest rate and my homeowners insurance costs have been pretty steady from year to year. Well, it turns out my property taxes are going up a staggering 46%!! Why? Because gross mismanagement in the school district that I live in has cost the taxpayers dearly. Basically the elementary school district was allowed to engage in deficit spending unchecked for over five years. Last year the district was, for all intents and purposes, bankrupt. It was on the verge of shutting its doors nearly overnight when the governor stepped in and passed an emergency spending bill that got the district's bills paid through the end of the year. And oh yeah, the district also had to take out a $4.5 million loan to pay interest on previous debt! And who got stuck footing the bill for those two loans...myself and all the other residents. Although I don't have kids, I'm all for paying my fair share for education...it helps fund the future. But the fact that politically appointed officials were allowed to run rampant over a school district's financial books for five years really makes my blood boil. I wish I was in a stronger financial position so I could move. Sorry...I just had to vent.