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Updated about 4 years ago,

User Stats

88
Posts
66
Votes
Carrie Carlton
  • Investor
  • Nashville, TN
66
Votes |
88
Posts

Tax assessment increase 3 weeks after closing

Carrie Carlton
  • Investor
  • Nashville, TN
Posted

I live in Nashville TN. I just purchased our forever home and closed on 9/22/20. It was common knowledge that our property taxes were going to be increased by 34% and we were going to have a tax reassessment. 

This week we received via the mail for our updated tax assessment and bill for 2020. The total bill for 2020 was $2759. I went to our closing paperwork and noticed that the title company only credited us $859 from the seller for property taxes from 1/1/20 to 9/22/20. This left us to pay $1900 for the period of possession from 9/23/20 to 12/20/20. 

I contacted the title company and explained the situation to them. Their response was that when they asked the city for the tax assessment the new assessments were not available and they went by "what the city told them". 

I have been in real estate for 8 years and am always dumbfounded when I find new ways to screw myself. If anyone has any pointers I would greatly appreciate it. 

I am going to reach out to the seller to ask them to pay the difference, but imagine this will be met with silence. This just seems like this SHOULD be addressed by some kind of errors and omission paperwork in the closing papers, but I have been met with dismissal when I have asked for help from the title company

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