Real Estate Math
A Massachusetts property's annual taxes are $7,200. The closing occurs on August 1. The seller has paid taxes through June 30 (first half). How much does the buyer owe the seller for the overpaid taxes?
A$600✓ Correct
B$3,600
C$1,200
D$0
Explanation
July taxes = $7,200 ÷ 12 = $600 per month. The seller paid through June 30; the buyer owns from August 1.
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