Typically when buying a new home, property taxes are calculated based on the time of year and whether the builder has already paid them. Normal practice is for them to be prorated and adjusted when the sale closes so the homeowner only pays for the portion of the year for which they have possession of the home.

For example, if the annual property tax on the home is $2400 and the possession date is October 1, that leaves 92 days left in the year, so $2400 / 365 x 92 = $604.93 that the homeowner will owe in property taxes for the rest of that year.

Learn more: https://www.sterlingedmonton.com/blog/do-i-pay-property-taxes-when-buying-new