Paying Taxes within calendar year with closing
Tax question - Closed on a property mid-year in 2015 (buy and hold), HUD-1 gives the credit for property taxes payable for mid-year tax estimate from seller.
Example:
HUD-1 Property Tax Credit: $3000
Taxes during my ownership last 4.5 months: $2000
Total Property Taxes Due: $5000
Since the city this unit is located in allows payments split into 4 periods throughout the year, can I pay the $2000 property tax expense in 2015, get the tax deduction, and then since the $3000 is a payable pay it spread out over the remaining payments to clear it out in 2016? I see no reason to pay the $3000 property tax payable now as a interest free loan to the city/county/schools/state since it can wait and there is no tax benefit.