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tkunk05
New Member

Is it possible to have bought a home in 2016 and not paid any property taxes yet?

We did not own another home in 2016.
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Fern
New Member

Is it possible to have bought a home in 2016 and not paid any property taxes yet?

Yes, this is possible. Property taxes in many places are paid a year later meaning that the real estate taxes for 2016 will not be paid until 2017.

At closing, the seller should have been charged for real estate taxes through the closing date.

You can only deduct real estate taxes in the year they are paid to the taxing authority.

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1 Reply
Fern
New Member

Is it possible to have bought a home in 2016 and not paid any property taxes yet?

Yes, this is possible. Property taxes in many places are paid a year later meaning that the real estate taxes for 2016 will not be paid until 2017.

At closing, the seller should have been charged for real estate taxes through the closing date.

You can only deduct real estate taxes in the year they are paid to the taxing authority.

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