Escrow & Title
The proration of property taxes at closing is based on:
AThe buyer's desired tax rate
BThe number of days each party owns the property during the tax year✓ Correct
CThe listing price of the property
DThe lender's escrow requirements
Explanation
Property taxes are prorated at closing so each party pays their fair share based on the number of days they own the property during the tax year, adjusting for any taxes already paid or accrued.
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