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Subject:  Re: 401K/IRA in probate Date:  12/10/2018  10:22 PM
Author:  ptheland Number:  128265 of 129771

The only tax entry on the Settlement form is for County property taxes from 07/01/2018 through date of sale. The amount is a pro-rated amount for that time frame.

Just for completeness again, that's actually a proration between you and the buyer. It's not a payment to the tax collector. Because the buyer will own the property when the taxes become due, the buyer is responsible for the full amount of the tax bill even though they didn't own the property for the full period of time covered by the tax bill. To make things equitable between the buyer and seller, you as the seller are giving the buyer money for the taxes during the time you owned the property. (Substitute "the estate" for "you" as necessary.)

I have no doubt you have read the settlement statement correctly. I'm mostly pointing things out for the benefit of lurkers and others reading through this thread. (And a slim hope that perhaps you missed something earlier.)


PS for those who care about the minutiae. In CA, annual property taxes are for the period from July 1 through June 30 of the next year. They are often referred to as something like the 2018/2019 tax bills (which are the current year bills as of the time I'm typing.) The first installment is due Nov 1 and covers the time from July 1 through Dec 31. The second installment is due Feb 1 and covers the period from Jan 1 through June 30.
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