Prorations: Property Taxes Posted on January 8, 2019 (April 11, 2025) by Zo Escrow The purpose of a proration in a sale transaction is to fairly divide property expenses like taxes and association dues between the Seller and Buyer so that each party is paying only for those days which he actually owns the property. Property taxes run on a fiscal calendar year and does not follow the standard calendar…
About California Property Taxes Posted on July 31, 2016 (April 11, 2025) by Zo Escrow California’ fiscal year runs from July 1st to June 30th the following year and are assessed and collected at the County level. Property taxes are collected in two equal installments. The first installment covers July 1st – December 31st and is due on November 1st and delinquent on December 10th. The second installment covers January 1st…
