2020 Real Estate Tax Escrow for Greene County

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Traditionally, Greene County sends out property tax bills for the year in November. However, this year tax bills will not be available until at least December due to a Greene County system issue.

Beginning in November, Lenders require that all property tax bills are paid as part of closing. Typically Hogan Land Title would collect the 2020 tax amount as part of closing and pay the tax bill. But because the 2020 actual tax bills are not available, we have created a solution to cooperate with Lender requirements while making this as simple as possible for Buyers:

  • The Buyer will receive a prorated credit from the Seller for 2020 taxes based on the 2019 tax bill.

  • The Buyer will then have a line item on their Settlement Statement to collect the total amount of estimated 2020 taxes. This amount will be calculated by adding 10% to the 2019 tax amount. This total amount will be held in escrow until 2020 tax bills are available.

  • When Greene County issues 2020 tax bills, Hogan Land Title will pay the tax bill on behalf of the Buyer. Any excess funds that were collected will be refunded to the Buyer at the time the taxes are paid.

We appreciate your patience and cooperation in this matter. Please know we are committed to working with you on this matter and are available to answer any questions.

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