Real Estate MathIntermediateDelaware Exam
Closing is on September 15. Prepaid annual property taxes are $4,380 (paid January 1 for the full year). What is the seller's tax proration credit to the buyer? (Use 365-day year.)
A$2,190
B$3,061Correct
C$2,724
D$3,009
Why $3,061 Is Correct
Answer B: $3,061
Days seller owns property: Jan 1–Sep 15 = 258 days. Daily rate = $4,380 ÷ 365 = $12.
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
Key Real Estate Math Terms in This Question
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