Author's Note

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Greetings all,

We've got some exciting news we want to share soon, but first, we want to thank all of our Agent and Lender friends for our success!

A new year is upon us, signifying new beginnings and new opportunities for growth. This is sure to be a year full of excitement at Russell Petersen Law Firm. We are thankful to have you as a part of our client network. We look forward to helping you grow your relationships with gratitude in 2022!

Russell C. Petersen

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Tax Proration Primer

“Ad valorem property taxes…shall be prorated as of the date of closing. Notwithstanding any provision to the contrary, in the event ad valorem property taxes are based upon an estimated tax bill…, Buyer and Seller shall, upon the issuance of the actual tax bill…, promptly make such financial adjustments between themselves as are necessary to correctly prorate the tax bill…. Buyer agrees to indemnify Seller against any and all claims of the county and if applicable, city, for unpaid ad valorem real property taxes for the year in which the Property is sold.” (from the GAR contract)

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Take a look at your ALTA statement and you’ll see property taxes prorated on every single transaction (unless your closing is on December 31st or the contract stipulates otherwise).  Although it’s a common sight, many people don’t understand the basic mechanics of how property taxes are prorated. 

As a general note, counties and municipalities in Georgia typically examine and value properties effective January 1st of each year and release their property tax bills in the fall, giving the taxpayer 60 days to make payment in full.

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Get to know our Agent of the Month, Derrick Coggin

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As your trusted Real Estate Expert in Gainesville, I am here to help!

Whether you are buying your first home, selling your existing property to build your dream home, or looking to invest in real estate, I am here every step of the way. I would love to sit down and show you why I am the best real estate agent for you. Contact me for more information at (678) 878-6383 or!

Why is World Logic Day celebrated?

World Logic Day is an international day proclaimed by UNESCO in association with the International Council for Philosophy and Human Sciences (CIPSH) in November 2019 to be celebrated on 14 January every year. It was first celebrated on 14 January 2019, before the UNESCO declaration. World Logic Day intends to bring the intellectual history, conceptual significance and practical implications of logic to the attention of interdisciplinary science communities and the broader public.

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