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Old 09-23-2016, 12:53 AM
 
122 posts, read 271,153 times
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We are buying a house and will close soon. Seller will prepay the tax to us but the thing is we don't know how much the 2016 tax is until the end of year. If the tax jumps at the end of the year, how do we ask money back from seller to make it fair?
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Old 09-23-2016, 05:28 AM
 
Location: DFW
40,952 posts, read 49,176,191 times
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The 2016 tax rates and appraisals were established back around June. The Title Company should know the exact amount your 2016 taxes will be and will prorate on that amount.

Starting about Oct 1 the Title Company will no longer credit you for the previous 9 months Tax pro-ration. They may pay the Tax bill direct to the tax district.

Either way you should be covered perfectly.
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