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Harlan Florence, Attorneys at Law

Real Estate Closing Attorneys in Atlanta, Georgia

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I bought my house and got a tax bill for the entire year. Do I have to pay it? What gives?

So you bought a house and just received a bill for the whole year of property taxes? No need to worry! This is perfectly normal, and everything is fine.

You see, the property tax bills weren’t available when you bought your house. If they were, they would have been collected for and paid at closing. But when you bought your house, they weren’t out. And since most tax offices don’t release the yearly bills until autumn, this happens pretty much every time someone buys a home.

That’s why there are prorations. If you look at your settlement statement, you should see a credit from the seller to you; and this represents their portion of the taxes. The proration amount is based on the last available bill, and the credit reduces the amount you otherwise would have needed for closing. Everybody’s responsible for their part of the taxes, after all!

When the bill finally does come out, you are ultimately responsible for paying the entire amount that’s owed. If you have a mortgage, most of the time all you need to do is forward the bill to your mortgage company. They’ve already been collecting escrow in anticipation of paying those taxes. If you own your home free and clear, then you should go ahead and pay that bill – but know that the seller contributed their portion at closing.

Harlan and Associates is an Atlanta-based boutique law firm that believes there’s a better way to handle your real estate closing. We’d love to work with you. Contact us today, and let’s see what we can do together.

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harlan_florenceHarlan Florence@harlan_florence·
8 Apr

Georgia Supreme Court extends Judicial State of Emergency for the 13th time. Virtual closings now good only through end of the month, when the Health Care Emergency is slated to end. http://ow.ly/JQPd50Ek7Yg

Reply on Twitter 1380258310629294080Retweet on Twitter 1380258310629294080Like on Twitter 1380258310629294080Twitter 1380258310629294080
harlan_florenceHarlan Florence@harlan_florence·
5 Apr

Well, this is new. Instead of rolling the State of Emergency out another 30 days, Kemp extends just to end of month. We'll see if the GaSupes play along in the next few days. http://ow.ly/h55E50EgDQo

Reply on Twitter 1379063189233614852Retweet on Twitter 1379063189233614852Like on Twitter 1379063189233614852Twitter 1379063189233614852

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Feb 11

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Wondering who sent that closing status update? It just might be this guy.
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Nov 6

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Gotta love it when Magnums P.I. show up at the office.
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Oct 9

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Now go get that rehab done, @mskialee
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Sep 1

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Thumbs up!
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Jul 21

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Oh. These guys. Congrats, you two!
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Jun 26

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Coming to closing? Wear a mask! Here's a handy guide.
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Harlan and Associates, LLC. 5775 Glenridge Drive, Building B, Suite 550, Atlanta, Georgia 30328.
T:770 817 1012 F:770 817 1013 W:www.harlan-law.com
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