Update tax proration to run on other times of year not just calendar year
Right now tax prorations are based on calendar year but here in NH and Maine they do not run on calendar year but rather 4/1-3/31 and 7/1-6/30, respectively.
I work with Builders/Sellers wherein the HOA dues for these new construction homes need to be able prorated and charged to the Buyer side only. Builder/Seller that build in new developments/subdivision do not pay HOA dues on Lots only. Once they build a home and sell it to a Buyer, the Buyer pays HOA dues from date of purchase through end of time frame that they are due (monthly, quarterly, etc.) Example - HOA dues are due monthly - purchase date is on the 2/5th of the month, the proration sum from the 2/5th to last day of the month 2/29 needs to be calculated and charged to the Buyer. A proration section that would calculate for that time period is needed since there is no proration debit/credit between the buyer and seller.
Kelly the taxes are based on calender year. Your taxes are being prorated wrong. You just don't realize it.
The tax prorations are based on whatever dates are entered. I'm in NH and it works well for us.
I work with Builders/Sellers wherein the HOA dues for these new construction homes need to be able prorated and charged to the Buyer side only. Builder/Seller that build in new developments/subdivision do not pay HOA dues on Lots only. Once they build a home and sell it to a Buyer, the Buyer pays HOA dues from date of purchase through end of time frame that they are due (monthly, quarterly, etc.) Example - HOA dues are due monthly - purchase date is on the 2/5th of the month, the proration sum from the 2/5th to last day of the month 2/29 needs to be calculated and charged to the Buyer. A proration section that would calculate for that time period is needed since there is no proration debit/credit between the buyer and seller.