Did you Sell Real Estate and Still Receive a 2019 Tax Bill?
By mke-realestate-com December 26, 2019

It’s that time of the year!  Discount shopping, resolutions to consider and time to pay your Did you receive a tax bill for a property you sold in 2019property tax bills. But, did you receive a tax bill for real estate you sold in 2019?  It can take municipalities a tax year to update owner changes in their systems.

Receiving the bill for a property you sold can be a bit confusing, leading to concern and perhaps a tinge of panic.

The most common questions sellers have:

  1. Didn’t I already pay my portion of the taxes?
  2. Are the new owners responsible for the tax bill?
  3. Why did I receive the bill?
  4. What should I do with the bill?

Answers:

  1. Yes, the Seller’s portion of the tax bill was given to the Buyer at closing and should be stated and itemized on the Closing Disclosure.  The buyers pay the real estate taxes due after closing. This way, the buyer, and seller only pay the real estate taxes that accrued during the time they actually owned the property.
  2. Yes.  The buyers are responsible for paying the tax bill.
  3. It can take municipalities a tax year to update their systems with new owner info.
  4. Mail the tax bill to the new owners.
  5. If you are still concerned, contact your title company.  They can answer all of your questions and make sure all documents were sent where they were supposed to go.

For tax advice, please consult a tax professional.

For advice on selling, buying or Investing in real estate, consult me?

Quick Links to Metro-Milwaukee area municipality property tax pages:

Bay Side
Brookfield
Brown Deer
Fox Point
Franklin
Glendale
Menomonee Falls
Mequon
Milwaukee Office of City Treasurer
Oak Creek
Shorewood
Wauwatosa
Whitefish Bay

Author: Chris Muellenbach is a real estate broker with:
Muellenbach Real Estate, First Weber, Inc.

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