Real Estate Math
At closing, Minnesota property taxes are prorated. The seller owned the property from January 1 to July 15 (196 days). Annual taxes are $4,380. Using a 365-day year, how much does the seller owe the buyer in tax proration?
A$1,800
B$2,352✓ Correct
C$2,190
D$2,028
Explanation
Daily tax rate = $4,380 / 365 = $12.00/day.
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