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Mary ConwayRealtor
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Property Taxes
In Indiana the property taxes are assessed in arrears, which mean we pay the previous years taxes in the current year. For example in 2008 we will be paying the 2007 taxes. Normally these taxes are paid in two installments, one in May and one in November. When real estate closings take place typically the taxes are pro rated with the seller paying for the taxes up to the closing date, thereafter the buyer is responsible. Indiana also offers a homestead exemption to offset homeowner’s primary resident property taxes. In 2008 the state sales tax was raised from 6% to 7%, also to offset property taxes. |
