How the adjustments relative to the municipal taxes are calculated?

The tax accounts are established over a period which goes as from January, 1st to December, 31st, being 365 days (except for leap years).

Thus, for a sale taking place on May, 15th of a regular year, the seller will be the owner of the immovable property sold as from January, 1st until May, 14th, thus a period of 134 days. The purchaser, him, in turn, will be the owner as from May, 15th until December, 31st.

The amount of municipal taxes will be divided by 365 (the number of days in the year) to obtain the amount of municipal taxes payable daily. This sum will then be multiplied by 134 days for the seller and 231 days for the purchaser.

A second calculation will usually be required because it is necessary to know if the municipal taxes are partially or fully paid.

Let us return to our example of a transaction taking place on May, 15th. If the seller has fully paid his municipal taxes, the purchaser will have to repay him the equivalent of 231 days as for the municipal taxes (from May, 15th until December, 31st) because he is the owner of the immovable property as from May, 15th and, so, responsible for paying the cost of the municipal taxes.