Free tool
Prorate a year's property taxes at closing. Enter the annual tax, the closing date, the 360- or 365-day year and who owns the closing day to see the day count, the daily rate and the seller's share credited to the buyer.
Built for Texas real estate exam prep (taxes paid in arrears)Exam questions tell you which year to use and who owns the closing day. If a question doesn't say, the usual convention is that the seller owns it.
Enter the annual tax and closing date to see the proration.
Prorations are one of the math question types on the Texas real estate exam - Encodr turns the day-count method into spaced-repetition practice so it sticks.
Get started freeThree steps: find the daily rate (annual tax ÷ 365, or ÷ 360
for a 360-day year), count the days the seller owned the property this year, then multiply. On a
365-day year you count the actual days in each month; on a 360-day year every month counts as 30 days,
so the seller gets 30 days for each full month plus the day number of the last day they own (a 31st
counts as the 30th). The closing day counts for whoever the question says owns it.
Texas property taxes are normally prorated as an arrears item: the bill for the year comes due by January 31 of the following year, so at a mid-year closing the current year's taxes haven't been paid. The seller owes the buyer for the days the seller owned the property, so the seller's share is a debit to the seller and a credit to the buyer.
Worked example: annual taxes of $7,300, closing June 30, 365-day year, seller owns the closing day. The daily rate is $7,300 ÷ 365 = $20. The seller owned January 1 through June 30: 31 + 28 + 31 + 30 + 31 + 30 = 181 days. The seller's share is 181 × $20 = $3,620, debited to the seller and credited to the buyer.
On a 360-day year, annual taxes of $3,600 are $10 a day. With an April 15 closing, the seller owns 90 + 15 = 105 days ($1,050) if the seller owns the closing day, or 104 days ($1,040) if the buyer does.
The TREC resale contract prorates current-year taxes through the Closing Date, and if the actual taxes turn out different, the parties adjust later. On a real closing, the title company's settlement statement controls. More prep: the Texas real estate exam course and the real estate commission calculator.
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