Posted by JHyre in Ohio on April 25, 2002 at 06:19:15:
Dunno, that’s state specific. My guess: The title owner of the property is usually the one on the hook for property taxes, meaning that the lessor owes the taxes…so if you are contractually bound to reimburse him, its at his rates. But that’s just a guess.
John Hyre
lease-option property tax - Posted by Judy Frederick
Posted by Judy Frederick on April 24, 2002 at 11:02:32:
I purchased a lease option home in March. At the closing the seller told me I had to repay him for the property tax he had already paid for the year. He did not have a homestead exemption and was paying a much higher tax bill than I would have to pay. Shouldn’t I only owe him the amount that I would pay with the homestead exemption? Or due I really owe him the full amount he paid?