New house questions - interest credit and tax assessment date (lender, buying)

[emanresu2]

Hello, I am buying a new house in Wake county on November 4. My lender has given me two options: 1) pay 4 days of interest at closing and start payments in December, or 2) pay 26 days of interest and start payment in January of next year.

Im not sure which way to go on this and it occured to me that maybe this could influence the assessment date for my property taxes.

When I bought a new house in Wake count in the past I was pleasantly surprised to find out that I only paid property taxes on the value of the lot until January of the next year, when the value of the house was added to the assesment. If I delay my first payment until after the first of the next year, could this possibly delay when the house value is added to the assesment? I figure it is likely based on closing date but I wanted to make sure, and I cant find out what the assessment date is for Wake county.

Thanks!

[coltank]

Property taxes are assesed about every 7 years. When you make your first payment will not affect the value. Generally on new construction the value is set at the closing price, and retroed back to when assesments were done, which was just last year.

[Funky Chicken]

When you set your payment will not change the county's assessment date.
If the house is new construction that has sat awhile there may very well be an assessed value assigned to the home already and the value on which you will pay taxes (prorated from your closing date until June 30, 2010 which is the end of the current tax year).

[Kim Wagner]

Consider your out of pocket cash at closing and how this will differ.