Real estate tip: Mid-year buyers avoid full-year taxation

Are property taxes prorated?

Yes. Property taxes are usually prorated to the closing date. If the seller paid property taxes for a time period when you actually own the property, you would reimburse the seller for this amount at the closing. This appears as a buyer charge on the settlement sheet. If the seller owes taxes, this may appear as a buyer credit on the sheet. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....