Use Our Tax Proration Credits Calculator To Estimate Your Closing Adjustment
Use for most closings — requires a recent full-year tax bill.
Use when the property was reassessed, newly built, or the tax bill is unreliable.
Enter the EAV reduction amounts from your tax bill (e.g., $10,000 for homeowner). Leave blank if none apply.
Total seller credit to buyer at closing
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Tax computation
- Most recent tax bill
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- Proration percentage
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- Adjusted annual tax
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- Daily tax rate
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- Property value
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- × Assessment level
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- Assessed value
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- × State equalizer
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- Equalized assessed value (EAV)
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- × Local tax rate
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- Total tax before exemptions
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Exemptions applied
- Homeowner's exemption
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- Senior citizen exemption
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- Senior freeze exemption
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- Total tax after exemptions
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Installments
- County
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- First installment (55%)
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- Second installment (45%)
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- Total tax
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Proration for closing
Seller credit to buyer at closing
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Proration breakdown
- Annual tax used
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- Daily tax rate
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- Days to closing
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- Seller credit to buyer
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Prior tax year credit to buyer
- Full year tax owed
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- First installment paid (55%)
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- Second installment paid (45%)
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- Prior year credit to buyer
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No installments paid. Buyer receives credit for the full prior year.
Current tax year credit to buyer
- Period
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- Days
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- Daily tax rate
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- Current year credit to buyer
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Total seller credit to buyer
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- Total seller credit to buyer
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These credits compensate the buyer for the seller's share of property taxes. The prior year taxes have not yet been fully billed. The current year taxes accrue from January 1 through the closing date. Your closing attorney will verify the final amounts on the settlement statement.
This estimate uses the assessed value method. Actual taxes may differ based on final equalization factors, special assessments, and exemptions verified by the county.
Save your calculation results as a PDF document.
