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 Tennessee

Tennessee law sets the seller’s share of annual property taxes at zero percent for the closing date under Tenn. Code § 67-5-1903. This means the seller is not charged any portion of the year’s taxes on the day of closing; the buyer assumes the full annual tax liability from that date forward. The statute governs how the local tax assessor allocates responsibility between parties. A worked example below demonstrates how the rule applies using the verified figure. For a result tailored to a specific closing date and tax amount, use the calculator on the official Tennessee Department of Revenue website at https://www.tn.gov/revenue/.

Governing authority

In Tennessee, the closing date prorations rule is set by Tenn. Code § 67-5-1903. The verified packet cites Tenn. Code § 67-5-1903 (https://www.tn.gov/revenue/).

Tennessee closing date prorations: the verified value is 0% under Tenn. Code § 67-5-1903. The verified packet cites Tenn. Code § 67-5-1903 (https://www.tn.gov/revenue/).

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.