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 North Carolina

In North Carolina, closing date prorations for property taxes are governed by N.C.G.S. § 105-360, which provides the statutory framework for dividing tax liability between buyer and seller. Under this statute, the tax year runs from January 1 to December 31, and taxes are prorated based on the number of days each party holds the property during that year. The official source from the North Carolina Department of Revenue details the calculation method, which uses a 0% verified figure for the applicable rate. The proration typically occurs at closing, with the seller responsible for taxes through the day before closing and the buyer from closing day onward. For an exact estimate based on your specific closing date and property details, use the DocketMath calculator.

Governing authority

In North Carolina, the closing date prorations rule is set by N.C.G.S. § 105-360. The verified packet cites N.C.G.S. § 105-360 (https://www.ncdor.gov/taxes-forms/property-tax).

North Carolina closing date prorations: the verified value is 0% under N.C.G.S. § 105-360. The verified packet cites N.C.G.S. § 105-360 (https://www.ncdor.gov/taxes-forms/property-tax).

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.