Homeowners, especially new homeowners, often contact us for information on property taxes as it’s a new experience. We hope that the following information may help you when it comes to property tax time.

Tax Calendar

• July 1 – Fiscal year begins.  Homeowners notified of new value
• September – Tax rates set
• October – Late October Tax bill mailed
• November 1 – First tax installment due
• December 10 – Taxes delinquent if not paid
• January 1 – Assessment date
• February 1 – Second tax installment due
• April 10 – Second tax installment delinquent if not paid
• April 15 – Last day to file homeowners, veterans or senior citizens exemption

Property Taxes while buying a home and Escrow

If you are in the process of buying a home the prorations of property taxes are handled by the escrow company.  If escrow closes:

• July 1 – No prorations
• August 1 – Charge seller 1 months, credit buyer 1 month
• September 1 – Charge seller 2 months, credit buyer 2 months
• October 1 – Charge seller 3 months, credit buyer 3 months
• November 1 – Collect 1st installment from sellers account – credit seller 2 months, charge buyer 2 months
• December 1 – credit seller 1 month, charge buyer 1 month
• January 1 – No prorations
• February 1 – Collect 2nd installment from sellers account – charge buyer 5 months, credit seller 5 months
• March 1 – Charge buyer 4 months, credit seller 4 months
• April 1 – Charge buyer 3 months, credit seller 3 months
• May 1 – Charge buyer 2 months, credit seller 2 months
• June 1 – Charge buyer 1 month, credit seller 1 month