Pro-Rata Property Taxes can be paid by the buyer, the seller, or both and reflect the fact that most houses don’t go into closing on the same day that property taxes are assessed. Because of this, taxes are calculated based on the portion of the year that the house will actually be owned.
Closing Costs: Pro-Rata Property Taxes
December 2, 2011 by adminCategory: Closing Costs, Mortgages, Zero Closing Costs Mortgages