If you are paying part of your property tax and insurance with each payment the computation is different. Again, consult with your escrow company for specifics in your case.
You may also be subject to supplemental property tax which is the difference between the tax rate for your seller and your new tax rate based upon your purchase price. That will be billed to you weeks or months later by the county.
Lance R. King – Broker/CEO
King Realty Group
BRE # 01384425
415.722.5549 - Cell
What you're seeing if you're closing right now in CA (mid-Feb, 2014) is that you are basically paying the entire second installment (at the seller's rate). This is because the tax bill is due (Feb. 1), but most owners have not yet paid it (late April 10).
If you have any questions about this, let me or your escrow company know.