i am considering buying my first home, i want to know this : lets say i close on the house in july and?

Taxes are paid one of two ways, either in advance or in arrears. If paid in advance you will pay the seller from the date of closing to the end of the tax period (ex. close 7/1/09 tax period ends 10/31/09 you pay 4 months/120 days). If taxes are paid in arrears the seller pays you from the beginning of the tax period to the closing date (ex. 11/1/08 to 7/1/09 they pay 8 months/240 days)

No, they will be pro-rated. This will all be handled at settlement. They go through all the taxes etc. Just to let you know when you have a mortgage, the property taxes, school tax, insurances, are part of your mortgage. In other words you pay a certain amount each month to your lender and they take care of paying the proper agency. I helps. Good luck.

Taxes are prorated to the day of closing. Unless your contract says otherwise. So if you close and move in on Septmeber 30th, you would owe the taxes due from 9/30 through Dec 31. of that year.

This is what should happen. At closing the seller will provide funds for the year up to the closing date and you will provide funds for the remainder of the year (or some portion of that-a law was passed that you are not required to provide more than)n two months escrow-the mortgage company would make you provide a years in advance and then use your money free-the government made them stop that practice)

These are part of yours and the seller's closing cost.

You would pay it. If part of the tax is for the time the other people owned the house, it would be prorated at settlement time and they'd pay their share then.

You would pay that third quarter tax. Whatever the amount is will have been added to your mortgage payment and the loan company will handle the payments from your escrow account. Same with your home owners insurance.

Where I come from, its pro rata. You need to contact whichever body governs property tax in your state or country, or visit their website.