who is going to pat property tax for first half of year?
we are going to built new house.
according to contract, we will be taking possession on last week of October.
with FHA loan we are putting 20% down to get around P.M.I.
i don't want to use tax collection company to pay my tax, i'll pay the tax by myself.
my loan broker told me that if i put 20% down i can pay my tax by myself.
my question is:
Are we responsible for second half of 2012 property tax?
- LoriLv 68 years agoFavorite Answer
You would most likely be responsible for real property taxes on the house from the date the occupancy permit is issued. You will be responsible for the real property taxes on the land from the date you purchased it. Most localities that impose property taxes will "pro-rate" the tax so that you only pay for the portion of the year that you owned the asset. Check with your local Treasurer or Department of Taxation.