How do you compute the number of days for property tax proration at a closing?

Asked by Tdorman, Uhrichsville, OH Mon Sep 17, 2012

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Anna M Brocco, Agent, Williston Park, NY
Tue Sep 18, 2012
Ask your agent, attorney, and or title company for the exact amount.....
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John Walin, Agent, Libertyville, IL
Mon Sep 17, 2012
Hi
Divide the number day of of the year, for example, closing on day 173 of the calendar year, go with day 174 for the buyer side and divide that number by 365. 173/365 for the seller side. In Illinois, we pay our taxes in arrears so need to project an unknown tax bill as well. Title company and attorney do the specific math.
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