Welcome!

I am an Atlanta native and made the decision in 2007 to leave my job as an architect/urban planner to get my real estate license. This was a difficult decision but has been great since my very first day in my new career and I am really enjoying it! It is so rewarding helping people find that perfect home, and it allows me to continue to satiate my love of good architecture and great neighborhoods!

I attended Georgia Tech (GO JACKETS!!!!) which is where I met my husband. For almost a decade we lived in one of Atlanta's fabulous in-town neighborhoods in a great 1920's Craftsman bungalow with our two dogs and two cats. Following the birth of our first child, we bought a foreclosure in the west Buckhead area and fully renovated it using an FHA 203k loan, which was a fun and sometimes daunting process. And just prior to the birth of our second child, we purchased and renovated a home in downtown Historic Roswell, completing our personal tour of some of Atlanta's best neighborhoods to live in!

I decided to create this blog in order to share useful information and resources about the real estate market and home buying process, as well as hopefully bring some humor and levity to what is often a complex and intimidating process. Enjoy!!!

Monday, September 15, 2014

Property Taxes

It's tax time in the Atlanta metro area.  Here are some details about how this part of the purchase process and home ownership works:
  1.  All taxes are based on a fiscal year. The bill covers January 1 through December 31.
  2. Once the tax bill is posted by the municipality it is a lien against the property and must be paid at or before closing.
  3. The taxes are prorated on the closing statement.  The closing statement is proof for IRS purposes of the amount paid by each party.
  4. When a lender sends a 1099 at the end of the year showing taxes paid, this amount usually does not include amounts paid at closing but only amounts paid out of the escrow account to the tax commissioner.  Buyers and sellers need to consider how taxes were handled at closing when filing taxes.
  5. If the taxes are under appeal at the time of closing a “lesser” tax bill is issued. another bill may be mailed much later when the appeal is settled; it must be paid or it will be a lien on the property.  New owners should pay and then contact the Sellers for their share.
  6.  The GAR Purchase & Sale Agreement contractually binds the parties to assist in re prorating taxes after closing. 
If you have any further questions about this, please don't hesitate to contact me!

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