Escrow & Title
What is the Nevada common practice for prorating property taxes at closing?
AProperty taxes are never prorated in Nevada
BIn Nevada, property taxes are typically prorated based on the fiscal year (July 1 – June 30), with the seller responsible for taxes through the closing date and the buyer responsible thereafter✓ Correct
CProperty taxes are always paid by the buyer in Nevada
DTaxes are prorated based on the calendar year in Nevada
Explanation
Nevada's property tax fiscal year runs July 1 through June 30. At closing, property taxes are prorated: the seller is responsible for taxes from July 1 through the closing date; the buyer is responsible from the closing date through June 30.
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