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| The Real Estate Encyclopedia |
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| How do I prorate my property taxes? |
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| Category - Home Selling FAQ's - General Home Selling
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| Taxes are always due from January first until midnight of the day you move. The following is an example of a closing scheduled for September 26 with taxes of $4,325.00: Take the taxes and divide by 365 (days of the year) so you can get find the daily tax rate. In this case it would be $11.85. Take $11.85 and multiply it by the number of days in the year until September 26. This would be 266 days. By multiplying $11.85 and 266 you've prorated your taxes at $3151.91. |
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Courtesy of HomeOwners Advantage and link that to their entry in the wiki which is at HomeOwners Advantage |
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