On closing day, how many days of property tax will the seller be credited for if taxes have already been paid and the closing is on October 9?

In determining how many days of property tax the seller will be credited for on closing day, it is essential to calculate the number of days remaining in the property tax period from the date of closing, which is October 9.

In North Carolina, property taxes are typically paid in arrears, meaning they cover the previous year rather than the current year. The property tax year runs from January 1 to December 31, encompassing a total of 365 days. Since the closing is on October 9, we need to see how many days of the current tax year remain for which the seller would be credited.

From October 9 to December 31, there are 84 days left (21 days in October, 30 days in November, and 31 days in December). Therefore, the seller should receive a credit for these remaining 84 days of property tax they have already paid, as they will not occupy the property for the full tax year.

This rationale leads to the conclusion that the seller is credited for 84 days, reflecting the proper prorated amount of taxes relative to the time they are no longer responsible for the property.