WHEREAS, experience has shown that various different interpretations and methods of calculation have been applied to the computation of real property tax adjustments at closing of title to real property in Rockland County, New York, and
WHEREAS, it is the desire of the ROCKLAND COUNTY BAR ASSOCIATION, INC., to suggest a uniform practice with respect to adjustments of all such real property taxes;
NOW, THEREFORE, for the purpose of suggesting a uniform practice with respect to adjustments of real property taxes at closing of title to real property situate in Rockland County, New York, be it
RESOLVED, that all prior resolutions of the Association involving tax adjustments and assessments be and hereby rescinded, and be it,
FURTHER RESOLVED, that the following procedure is hereby recommended and suggested to be used for the adjustment of real property taxes in connection with the closing of title property situate in Rockland County, New York;
1. State, county and town taxes shall be adjusted for the tax year from January 1st through December 31st.
2. School taxes shall be adjusted for the tax year from September 1st through August 31st .
3. Village taxes shall be adjusted on the basis of the village’s fiscal year.
4. The taxes shall be computed on a 365 day basis.
5. The purchaser shall pay the tax for the day upon which the adjustment is made. In any town or village which permits partial payments (i.e. quarterly, bi-annually, etc.) where said partial payment would include a premium or penalty for choosing the partial payment option, adjustment will be made on the base amount of the tax only, without the premium or penalty. The seller who has chosen the partial payment option shall be solely responsible for the full payment of the premium or penalty thereon.