Indiana property tax can seem complicated, but with a little explanation it can be easily understood.

• Taxes are paid to the county Treasurer on May 10th and November 10th.
• Taxes are paid one year in arrears.
• The May installment is for taxes accrued January 1st to June 30th, the prior calendar year. The November installment is for July 1st to December 31st of the prior calendar year.

Lets look at an example:

A closing on April 20, 2007 will have taxes are prorated to day of closing. The seller will give the buyer a credit for all the taxes assessed in 2006 and payable in 2007 (365 days) and 110 days of taxes assessed in 2007. To calculate the daily tax amount, divide the annual amount by 365 days.