The majority of title companies will prorate an estimate of the current year tax. This means a credit is shown to the buyer on the property closing settlement statement. This credit is an estimate of the sellers’ portion of the current years property tax for the period of time they owned the property. This credit is NOT paid to the County Treasurer for property taxes but is given to the buyer. The buyer is then responsible for the full years tax having received this credit.
Please refer to your property closing settlement statement to determine your specific circumstances and potential tax liability.