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Why are Real Estate taxes collected one year in arrears?

April 26, 2017arrears collected Real Estate taxes year

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Why are Real Estate taxes collected one year in arrears?

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You pay for the time you own the property. This year is not applicable because you have not owned the property all year. You pay for the taxes for the year you owned the property. If you did not own the property during the previous year and are unsure if you are responsible for the taxes, contact your title company to determine who is responsible.