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gwynnebh
New Member

Where do I find how much property tax was paid?

I purchased a home on 12/30/16. My closing statement includes county property taxes paid into escrow, but I do not know whether these are considered property taxes paid.
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TomD8
Level 15

Where do I find how much property tax was paid?

Property tax payments aren't deducted when they're put into escrow.  They're deducted when the mortgage lender actually makes the tax payment.  In most cases, the paid property taxes will appear on your Form 1098, your year-end statement from your mortgage lender.

Since your home closed so late in the year, it's unlikely that any property tax has yet been paid on your new home. That's because the home buyer is only responsible for the property taxes from the date of closing forward.  The seller is responsible for the property taxes up to, but not including, the date of closing.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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1 Reply
TomD8
Level 15

Where do I find how much property tax was paid?

Property tax payments aren't deducted when they're put into escrow.  They're deducted when the mortgage lender actually makes the tax payment.  In most cases, the paid property taxes will appear on your Form 1098, your year-end statement from your mortgage lender.

Since your home closed so late in the year, it's unlikely that any property tax has yet been paid on your new home. That's because the home buyer is only responsible for the property taxes from the date of closing forward.  The seller is responsible for the property taxes up to, but not including, the date of closing.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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