Real Estate Math
A Kentucky closing occurs on September 15. The annual property taxes are $3,600. Using a 365-day year, how much of the tax does the seller owe for their portion of the year?
A$2,580✓ Correct
B$1,800
C$2,050
D$2,125
Explanation
Days from Jan 1 through Sep 15 = 258 days. Seller's share = ($3,600 ÷ 365) × 258 = $9.863 × 258 = $2,544.66.863/day × 258 days = $2,544.66. Using 360-day year: $3,600 ÷ 360 = $10/day × 258 days = $2,580.
Related Kentucky Real Estate Math Questions
- A Kentucky homeowner's annual mortgage interest paid was $14,400 on a loan balance that started at $240,000 at the beginning of the year. What is the approximate annual interest rate?
- A listing agreement in Kentucky is for 6 months at 6% commission. The property sells for $248,000. The listing brokerage keeps 55% and the buyer's brokerage gets 45%. How much does the buyer's brokerage receive?
- A lot in Louisville measures 66 feet by 132 feet. How many acres is this?
- A Kentucky property sells for $425,000. The buyer's closing costs are 3% of the purchase price. The seller's closing costs are 7% of the purchase price. What are the total closing costs?
- A borrower pays $3,600 in points on a $180,000 loan. How many points did they pay?
- A 10-acre Kentucky farm parcel is subdivided into lots of 0.5 acres each. How many lots result?
- A duplex sells for $180,000. Each unit rents for $800/month. What is the GRM?
- A Kentucky investor buys a property for $500,000. Operating expenses are $40,000/year and gross income is $70,000/year. What is the operating expense ratio?
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →