Property Tax Prorations
Pro-Rating Taxes
Upon notification of a confirmation of sale pending, the Treasurer’s Office will give a total amount taxes due at that time. In addition, the Treasurer’s Office will pro-rate the taxes for the future year based on the current years taxes. The pro-ration shall begin 90 days after the Sheriff sale. No penalties will be used in the pro-rated calculation. The full year real estate in addition to any long term assessments (ie lighting, storm water) will be used. This will be an estimate of the taxes to be paid in the following year. The following is an example of the pro-ration formula:
If the Sheriff’s sale occurs on October 1, 2009, 90 days later would be December 30, 2009. December 30th is the 364th day of the year. The taxes paid in 2009 (for 2008 taxes) were $1,380.72 for the full year (delinquent assessments not included). We would divide the taxes by 365 days of year (1,380.72/365) for an amount of 3.782795 and multiply that by the 364 days (3.782795*364) for a total of 1376.937380 or $1,376.94.
The Treasurer’s Office will not be held responsible for any additions to the tax bill due to unpaid garbage bills or miscellaneous fees that may be attached to the parcel after the confirmation date. Nor can we be held responsible for the increase in taxes that may occur due to levy passage or value changes. The figures given are estimates to the best of our knowledge.