How are property taxes handled in St. Croix?
Our real property tax bills are always paid in arrears. However, we are WAY behind, so tax credits are given by the seller to the buyer for all unbilled years, plus a pro-rated credit for the tax year in which the closing occurs. The same principle applies to condo association dues and/or homeowner dues (pro-ration for the year in which closing occurs). The credit given allows the buyer to bring less money to the closing table, but the buyer will be responsible for the bills when they are issued.
