Important: This calculator provides estimates only. Actual costs may vary based on specific transaction details. Transfer taxes in Berkeley are traditionally split 50/50 between buyer and seller.

How Prorations Work:

Property Tax: California's fiscal year runs July 1 - June 30. The calculator determines which fiscal year your closing date falls in, then calculates the daily tax rate (annual tax ÷ 365 days). It multiplies this by the number of days from the start of the fiscal year to your closing date. This is the amount you owe for the time you owned the property. Example: If closing on March 15 with $15,000 annual tax, you'd owe taxes for July 1 through March 15 (approximately 258 days = $10,603).

Mortgage Interest: Interest accrues daily from the 1st of the closing month through the closing date. The calculator takes your loan balance, multiplies by your annual interest rate, divides by 365 to get the daily interest rate, then multiplies by the day of the month you're closing. Example: $500,000 loan at 6.5% closing on the 15th = $500,000 × 6.5% ÷ 365 × 15 days = $1,336 in prorated interest.

Questions about your specific situation? Contact Megan Micco Real Estate