But First . . . a Brief History Lesson I don’t know about other states — I’m only licensed to sell real estate in Minnesota — but here, residential property taxes are due twice a year: May 15 and October 15. Those non-randomly chosen dates stretch back to when Minnesota’s economy — like practically every...Read More
Debits & Credits, Credits & Debits In the vast majority of real estate closings in Minnesota ” 99.45%**, to be exact ” the title companies doing the closing have to calculate a pro rata property tax adjustment between the Buyer and Seller That’s because Minnesota homeowners pay property taxes twice a year (May 15 and...Read More
Nod to Colder Climate So, what IS the connection (you ask)? Both dates were chosen with farmers and an agrarian economy in mind, literally two centuries ago.** Here’s the explanation: When Congress in 1845 set Election Day on the first Tuesday after the first Monday in November, however, lawmakers were thinking of weather rather than...Read More
But First . . . a Brief History Lesson I don’t know about other states ” I’m only licensed to sell real estate in Minnesota ” but here, residential property taxes are due twice a year: May 15 and October 15. Those non-randomly chosen dates stretch back to when Minnesota’s economy ” like practically every...Read More
Debits & Credits, Credits & Debits In the vast majority of real estate closings in Minnesota ” 99.45%**, to be exact ” the title companies doing the closing have to calculate a pro rata property tax adjustment between the Buyer and Seller That’s because Minnesota homeowners pay property taxes twice a year (May 15 and October...Read More
Debits & Credits, Credits & Debits In the vast majority of real estate closings in Minnesota ” 99.45%**, to be exact ” the title companies doing the closing have to calculate a pro rata property tax adjustment between the Buyer and Seller That’s because in Minnesota, homeowners pay property taxes twice a year (May 15...Read More