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Property Taxes at a Closing in FloridaProperty Taxes at a Closing in Florida

Handling Property Taxes at a Closing in Florida – What Do I Need to Know?

04 May 2020

What do first-time homebuyers need to know about handling property taxes at a closing in Florida? What happens when you close on a new home? Read on to learn more about property taxes and why you should let a reliable title & escrow company like Marina Title take care of everything to ensure your closing goes smoothly.

 

Property Taxes at a Closing in Florida – What You Need to Know

 

In the State of Florida, property taxes are assessed in November of the year in which they are due. This means, essentially, that if your closing takes place anywhere between January and the first week of November, the amount of the current year’s property taxes will be unknown. This is why property taxes are based on the previous year’s tax amount.

 

In Florida, property tax proration divides taxes between buyers and sellers, and sellers are responsible for taxes up until the property is sold. Since property taxes are based on the prior year, when the tax bill finally comes, all parties involved should re-prorate the taxes in order to determine who owes what. During the closing process, all parties typically sign a re-proration agreement, which states that the property taxes will be re-calculated upon the arrival of the tax bill. At closing, it is typical to use the maximum discount allowed when prorating taxes.

 

You Should Let Marina Title Handle the Details – Here Is Why

 

Closing on a home can be stressful, particularly for inexperienced first-time homebuyers. Many little things have to be done to ensure the closing process goes smoothly. If one of these things is out of place, it could delay or prevent the closing altogether. That is why a full-service title & escrow company like Marina Title is crucial to the home-buying process. There is no need to let the stress of a real estate closing get in the way of the joy of purchasing a home. Helping you handle property taxes at a closing in Florida is only one of many things we can do for you.

 

We are a full-service title & escrow company that can help you understand all of the ins and outs of buying real estate in the beautiful State of Florida. Our wide range of real estate closing services means you can get everything done in one place, making the entire process smoother and far less stressful. Our range of title and escrow services include title searches, title and lien searches, title insurance, escrow closing services, settlement services, and much more.

 

At Marina Title, our priority is to provide our customers with a level of customer service that adheres to the highest standards. Our professionalism, reliability, and commitment to our customers are what sets us apart from other title companies in Florida. We can handle all of your real estate needs in one place while still providing the personalized experience you deserve. We even go out of our way to make the process as convenient as possible by offering after-hours closings and statewide closings. In other words, we are here when you need us.

 

We always have the best interest of our customers at the heart of everything we do. Our main goal is to provide you with the best real estate closings in Florida. Are you ready to close? Give us a call and let us handle the details for you.

Do you want to learn more about handling property taxes at a closing in Florida? Do you have any questions? We have answers. Learn how we can make your closing memorable – contact Marina Title today by calling (305) 901-5628 or by sending an email to Romy@MarinaTitle.com.

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