Real Estate Math
A Kentucky property sells in month 6 of the tax year. Annual taxes are $4,200. Using a 12-month proration (assuming the seller owns through month 5), the seller owes taxes of:
A$1,050
B$1,225
C$1,750✓ Correct
D$2,100
Explanation
Seller's share = (5 ÷ 12) × $4,200 = $1,750. Using the values given ($4,200), apply the appropriate formula.. The correct answer is $1,750.. This is a common calculation on the Kentucky real estate exam.
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