When property taxes have already been paid, what is the buyer's financial obligation towards the seller?

When property taxes have already been paid by the seller, the buyer has a financial obligation to reimburse the seller for a portion of those taxes. This situation typically occurs during a real estate transaction where property taxes are paid in advance for the entire year.

Since the seller has already settled the property tax bill for the period that the buyer will occupy the property, the buyer must compensate the seller for the time they will own the property. This often ensures that the seller is not financially disadvantaged after the closing of the property sale. The reimbursement is usually calculated based on the number of days the buyer will own the property during the tax year, reflecting the shared responsibility for property tax expenses.

The other scenarios—such as receiving a refund from the seller, paying the taxes again, or having no financial obligation—do not accurately represent the customary practice in real estate transactions regarding property tax responsibilities.