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Old 05-05-2008, 01:34 PM
 
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I signed a contract to build a house last October with a local builder and the house was closed this Febuary 28th. The certificate of occupancy was issued this Febuary. The house therefore was not complete on Jan 1.
Should I pay tax on land only for this year? Thanks a lot!
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Old 05-06-2008, 03:24 PM
 
Location: San Antonio, Texas
3,503 posts, read 19,884,909 times
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I would think the land is taxable in full and the house tax prorated from 2/28. That's for 2008.
Check with your real estate attorney who handled the closing for a definite answer.
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