Real Estate Math
A Kansas property has annual property taxes of $4,800. The property closed on September 30. Taxes are paid in arrears. How many months are owed by the seller (January 1 – September 30 = 9 months)?
A$2,400
B$3,600✓ Correct
C$4,000
D$4,800
Explanation
Monthly tax = $4,800 ÷ 12 = $400. Seller's share = 9 months × $400 = $3,600. Using the values given ($4,800), apply the appropriate formula.. The correct answer is $3,600.. This is a common calculation on the Kansas real estate exam.
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