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Property Tax Proration Calculator

This calculator is designed to estimate the real estate tax proration between the home buyer & seller at closing. This proration calculator should be useful for annual, quarterly, and semi-annual property tax proration at settlement (calendar & fiscal year).

Simply close the closing date with the drop down box. Then, enter the local, county, and school tax amount and enter the tax period (i.e. FROM - 1/1/2018 TO - 12/31/2018). Choose paid or not paid. This calculator will count days owned and per diem tax cost.

PROPERTY TAX PRORATION

Close Date

January February March April May June July August September October November December

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

2015 2016 2017 2018 2019 2020 2021 2022

Ex (1/1/2018)

Ex (7/1/2018)

Per Diem

Per

Owned

COST

FROM

TO

Based On:

Diem

For

Local Tax

365 Days 366 Days Dates Entered

Paid Not Paid

County Tax

365 Days 366 Days Dates Entered

Paid Not Paid

School Tax

365 Days 366 Days Dates Entered

Paid Not Paid

Other ____

365 Days 366 Days Dates Entered

Paid Not Paid

Other ____

365 Days 366 Days Dates Entered

Paid Not Paid

Other ____

365 Days 366 Days Dates Entered

Paid Not Paid

TOTAL

1. Enter the closing date with the drop down boxes

2. Enter the real estate taxes in the COST box

3. Enter the tax period (i.e. FROM - 7/1/2018 TO 12/31/2018)

4. Choose the Per Diem based on 365 or 366 days, or if you are estimating quarterly, or semi-annual taxes based on the dates entered, choose Dates Entered

5. Choose Paid or Not Paid

6. Other - i.e. homeowners association proration, water, sewer, etc.

CLICK OUTSIDE THE BOX AFTER ENTERING VALUES

Examples are hypothetical. We can not and do not guarantee the applicability or accuracy in regards to your individual circumstances. I encourage you to seek personalized advice from qualified professionals concerning real estate financing and calculations. Copyright © 2020,William A. MacDonald All rights reserved

CALENDAR YEAR PRORATION EXAMPLE:
Municipality charges $3,650 per calendar year ($10 per day). Closing is on June 1st. Seller paid the property taxes. Calendar year proration: The seller occupied the home from January 1st to May 31st or 151 days. The buyer reimburses the seller from and including June 1st to December 31st which equals 214 days. The buyer will pay the seller $2,140 at closings (214 days X $10 per day).

FISCAL YEAR PRORATION EXAMPLE:
School district charges $3,650 ($10 per day). Closing is on June 1st, 2009 Seller paid the property taxes. The school district's billing period is from JULY 1ST 2008 to JUNE 30th 2009. The school district's year runs from the previous year to the current year. The seller occupied the house and is responsible for the school tax from July 1st 2008 to the day before closing or 335 days. The buyer will pay the seller for the settlement date of June 1st to June 30th or 31 days.