Unwritten Rule #3

For title transfers, one of the documents government agencies (GAs) require a "tax clearance." This document, which the City Assessor issues, says that the owner (the seller) is up-to-date with his real property tax (RPT) payments.

However, if you're transferring a property title in November/December, government agencies (GAs) will require the real property tax for the succeeding quarter (1Q of the following year) to be paid. Having a Tax Clearance wouldn't suffice.

This is likely because they know the transfer may not be completed before year-end, and GAs want to ensure that RPT payments are settled before the title is transferred to the Buyer's name.

I thought this would be helpful information since we're in the last two months of the year.