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  • H1N1
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Property Tax

We bought a house for $550,000.00 and will close escrow on Jan. 2012. How
much property tax we pay to title co?

  • November 28 2011 - San Francisco
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Answers (5)

Best Answer

For School taxes, you will pay your prorated portion from Jan 13 to July 31, and for your county and municipal taxes, you will pay from Jan. 13 to the end of the year.  That is typical of most areas.
  • November 29 2011
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  • H1N1
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Dan, you gave me an useful information. Thank you.
  • November 29 2011
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Dan, you gave me the information that I want. Thanks
  • November 29 2011
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Your lender should be able to assist you with this issue.

Normally, depending upon whether you impound your taxes or not, taxes will be prorated at closing between you and the seller.

Taxes will be based upon the current base.  Usually within a few months of closing, you will recieve a one time supplemental tax bill from the county reflecting the new tax base minus what you paid at closing.

Contact your lender, and good luck.
  • November 29 2011
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Go to your city/county's website and see what last years taxes were. This would get you a general idea.
  • November 29 2011
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