paying property taxes early?

steppinthrax

Active Member
At closing, the buyer reimburses the seller for the property taxes that have already been paid for the period starting from the date of sale to the end of the tax period. So any taxes paid would have been for the 2017-2018 tax period. Nothing remotely related to what would be owed for the 2018-2019 tax period which is what some erroneously claimed could be paid before 31 Dec 2017 as a deductible on 2017 Schedule A.
That's correct, when I purchased my home I had to reimburse the seller for his property taxes that he's already paid through the end of the year. So....
 
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