What is a property tax certificate?
A property tax certificate is an official document from the municipal tax collector that confirms the current status of property taxes on a specific property. It shows whether taxes are paid current, the amount of any delinquencies, and any pending special assessments. It is typically required during a real estate closing to ensure there are no outstanding tax obligations transferring to the buyer.
Why It Matters
A tax certificate provides official proof that the property's taxes are in good standing, protecting both buyers and lenders during a transaction.
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