Do I have to pay property taxes at closing?

+1 vote
asked May 29, 2018 in Real Estate - Renting by Lenonkee (390 points)
Do I have to pay property taxes at closing?

1 Answer

0 votes
answered May 31, 2018 by lulumeon (40,870 points)
The seller of the home or property should pay the closing costs from the start of the real estate tax year until the actual closing date.

So the seller should be responsible for paying the taxes owed before closing and the buyer should pay real estate taxes on the property after the closing date.

You may however have to reimburse the seller for property taxes paid that started during the date of the sale until the end of the tax period.

So you may or may not have to pay any taxes during the closing process but do be prepared to pay the property tax just in case.

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