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Old 01-05-2011, 08:17 AM
 
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Default school taxes

I currently own a condo in Jefferson Hills that is being sold. The closing will be Jan. 27th 2011. Will I have to pay the full year of school taxes or is it pro-rated.
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Old 01-05-2011, 09:41 AM
 
Location: Pittsburgh area
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Quote:
Originally Posted by susan mathew View Post
I currently own a condo in Jefferson Hills that is being sold. The closing will be Jan. 27th 2011. Will I have to pay the full year of school taxes or is it pro-rated.
It'll be pro-rated as part of the closing. Assuming you paid a full year in July or August (most school taxes AFAIK are paid on a July-June fiscal year) then part of the closing dollar amounts will be a credit to you of the remainder of the year from Jan 27th to the end of the fiscal year.

The closing document will have a ton of line items like this and if the closing people are good they will explain them all to you. During my (purchase) closing several years ago they caught a mistake where the sellers were double charged for the home warranty, and they cut a check to them on the spot.
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Old 01-05-2011, 02:30 PM
 
Location: Pittsburgh
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Taxes are prorated. It is a good idea to double check the math at closing. I have caught a mistake that would have been over a hundred bucks. Be organized.
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