Real Estate Math
A Kansas property closes on March 15. Annual property taxes are $2,190. Using a 365-day year, what is the seller's tax proration (seller pays taxes Jan 1 through March 15)?
A$450.00✓ Correct
B$180.00
C$270.00
D$365.00
Explanation
January has 31 days + February 28 days + 15 days in March = 74 days. Daily rate = $2,190 / 365 = $6.
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