Mar
I live in NY and just got a tax statement saying that the amount due by April 1st is $5,612.00. These taxes are up to date. Now what I am trying to figure out is how much in taxes I will owe when I sell this property which I’m working on. If the $5,612 is due April 1st does that mean if I sell before then that I owe less or is that $5,612 due already and I’ll have to pay whatever the pro-rated monthly taxes are since the taxes were called due. I guess the question is if the $5,612 is for Jan, Feb, March, or the period before that?
Answer:
It depends on the period of time the taxes cover. Call a local escrow company or title insurance company and they'll give you specific information.
Answer:
You still must pay the full amount unless you are going to close the deal on the property well before April 1st.
You'll have to work out in the contract who pays the property taxes, but you want to make sure they are paid on time. The state/county doesn't care who is supposed to pay them, but if they are late, you’re going to be penalized.