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What is pro-ration of property taxes?

April 26, 2017pro-ration property taxes

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What is pro-ration of property taxes?

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This is the process of charging either the buyer or seller for their share of real estate taxes owed on the property for their respective time of ownership. Taxes are said to be “pro-rated” back or forward to the due date of the property taxes.

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This is the process of charging either the buyer or seller for their share of real estate taxes owed on the property for their respective time of ownership.