This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Closing Date Prorations in Iowa

In Iowa, closing date prorations for property taxes are governed by Iowa Code § 445.36, which sets out the statutory method for dividing tax liability between buyer and seller. The rule typically uses the seller’s share of the annual tax based on the number of days they owned the property before closing. The official source confirms a verified rate of 6% is used in the calculation. Because the statute provides specific factors and a formula, the exact proration amount depends on the property’s assessed value and the closing date. The worked example below demonstrates how the 6% figure applies. To estimate your own proration, use the calculator linked in the official source.

Governing authority

In Iowa, the closing date prorations rule is set by Iowa Code § 445.36. The verified packet cites Iowa Code § 445.36 (https://www.realclearsettlement.app/iowa-tax-proration-guide/).

Iowa closing date prorations: the verified value is 6% under Iowa Code § 445.36. The verified packet cites Iowa Code § 445.36 (https://www.realclearsettlement.app/iowa-tax-proration-guide/).

Estimate your own result: every situation has exceptions that can change the outcome. Use the closing date prorations calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.