Split the year's property taxes between buyer and seller as of the closing date — and see the seller's credit to the buyer.
Because Florida property taxes are paid in arrears, the seller owes the share of the year's taxes for the days they owned the home. This property tax proration calculator divides the annual tax bill into a daily amount and multiplies by the seller's days of ownership to compute the credit the seller gives the buyer at closing.
Atlantic Title Firm calculates the exact proration on your settlement statement using the current tax figures for your parcel.
Florida taxes are paid in arrears, so the seller credits the buyer for the days the seller owned the property that year, based on the annual tax amount divided by 365.
The seller credits the buyer for their share of the year, and the buyer pays the full bill when it comes due — so each party effectively pays for the time they owned the home.
It's a close estimate. The settlement statement uses the actual current tax bill and the precise closing date.
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