Property Tax Proration Calculator

At closing, the year's property taxes get split between buyer and seller according to how long each one owned the home, and this tool pins down each party's exact share so the settlement is fair. Knowing the prorated amount ahead of time helps both sides budget, heads off last-minute disputes, and keeps the closing on track.

The math starts by converting the annual property tax bill into a daily rate, then assigning that daily cost to each party for the number of days they hold responsibility within the tax year, measured up to the closing date. Expressed as a formula, that is (Annual Tax / 365 days) * Number of Days Responsible. The calculator assumes the tax year runs from January 1 to December 31 and counts the closing day as one of the seller's days, so the seller's share runs from January 1 through the closing date and the buyer's covers the rest of the year. If your contract gives the closing day to the buyer, enter the day before closing; if your tax year starts on another date, work the split out by hand with the same formula.

Leap years can throw off a proration, though 2026 isn't one and the day count stays standard. Payment schedules are the other wrinkle: jurisdictions differ on whether taxes are billed annually or semi-annually, and that affects how money actually changes hands at the table even when the proration math itself doesn't move. Confirm the precise tax year and assessment period with your real estate agent or title company before you sign.