How to Prorate Real Estate Taxes Formula

How to Prorate Real Estate Taxes Formula

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The closing process occurs under the control of a closing agent who is responsible for the execution of legal agreements and the transfer of money to all interested parties.

At the closing, also known as the closing of escrow, real estate taxes are prorated between the buyers and sellers so that each party pays the appropriate amount of tax for the number of days they own the property.

The proration amounts depend on local customs and previous tax payments.

This book contains:

  • Doing Proration Math
  • Example of Tax Proration
  • Example of Tax Proration
  • Assessed vs. Market Value
  • Warnings
  • Tips
  •  Example Tax Bill

Download now and be well guided!