Looking for some info on tax obligation (Hampstead: credit, home)

[rnarco]

Hello,

I moved into my home (Hampstead) on April 1 of this year and just received my first tax bill for the first half of the year. One question I have is that shouldn't the bill be partially split between the previous owner and myself? I don't remember getting any credit on closing and can't see anything on the HUD indicating a property tax credit from the previous owner. Or am I responsible for the entire bill?

thanks.

[rmcewan]

When I moved here, the seller paid me their prorated portion of the tax bill as part of the closing. I then paid the full tax bill when it came.

[buck naked]

my tax bill year is April to April - it may be set up that way for your town as well. The first half of the bill covers from April thru October - the second half is November 'til April again.

If your tax base is from January through December than the previous owner would owe for the first 3 months of the bill. You need to check with town hall to see when your tax year is based.

[Valerie C]

Things are a little different in New Hampshire. The tax bill you just received covers from April through October. Tax bills generally cover 3 months prior and 3 months ahead, so if you closed on April 1, this is your bill to pay in full. The bill that the previous owner paid back in December covered the period of Oct, Nov, Dec 09, Jan, Feb, March 2010. There wouldn't be anything on the HUD unless you had closed before or after April 1.

You may notice that the tax bill that you receive toward the end of the year (generally due December 1) may be slightly higher. That's because the first bill is an estimate, and the towns don't set the official tax rate until later in the year. Just so you're not surprised when you open that next bill...

Tax proration is is usually an area of confusion for both Buyers and Sellers, and I'm a little surprised that the person who did the closing didn't make note of the fact that neither party needed to be compensated for taxes previously paid. It's seldom that these things work out so perfectly

Originally Posted by rnarco

Hello,

I moved into my home (Hampstead) on April 1 of this year and just received my first tax bill for the first half of the year. One question I have is that shouldn't the bill be partially split between the previous owner and myself? I don't remember getting any credit on closing and can't see anything on the HUD indicating a property tax credit from the previous owner. Or am I responsible for the entire bill?

thanks.