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Does seller pay tax?

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Colorado

I just bought a home may 3 2011.The seller has given me her part of the taxes from Jan to May of this year. I believe taxes are billed from july 2010 to july 2011. Is she responsible for paying July 2010 to December 2010 taxes and my bill will be for January 2011 to July 2011?

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  1. admin on Sep 24, 2011 Reply

    Typically the title company will pro rate the taxes due so you are paying you fair share of taxes to the date of the sale. The buyer pays or is given a credit from the seller.

    Often with real estate contracts, a myriad of options are available, seller pays all tax, buyer pays all, some, none.

    For a title to transfer all property tax needs to be current.

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