Real Estate Math
A Nebraska home's annual property taxes are $4,200. Closing is October 1. Using a 365-day year, the seller's tax proration debit at closing is approximately:
A$2,842.47
B$3,150.00✓ Correct
C$3,452.05
D$2,753.43
Explanation
Days Jan 1 to Oct 1 = 273 days. Seller's share = $4,200 ÷ 365 × 273 = $11.5068 × 273 = $3,141.36. Closest is $2,842.47.507/day × 273 days = $3,141.41. The00 using 360-day: $4,200 ÷ 360 × 270 = $3,150.
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