Real Estate Math
A property's closing is on October 15. Annual property taxes of $3,600 are paid in arrears by the seller. How much will the seller be debited at closing for the tax proration (using a 360-day year)?
A$2,700
B$2,800
C$2,850✓ Correct
D$2,925
Explanation
Daily tax rate = $3,600 ÷ 360 = $10/day. Days Jan 1–Oct 15: 9 months = 270 days + 15 days = 285 days.
Related Nebraska Real Estate Math Questions
- A Nebraska first-time buyer qualifies for a $210,000 mortgage. With 5% down, what is the maximum purchase price the buyer can afford?
- A Nebraska property manager handles a building where monthly rental income is $28,500. They charge a 7.5% management fee and also receive a leasing fee of $500 per new lease signed. In a month where 3 new leases are signed, total compensation is:
- 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 property's potential gross income is $60,000 per year. The vacancy rate is 5% and operating expenses are $20,000. What is the net operating income?
- A Nebraska property sold for $385,000. The total commission was 6%, split 50/50 between listing and selling offices. Within the listing office, the listing agent receives 60% of the office's share. The listing agent's commission is:
- An Omaha commercial lease is 4,500 sq ft at $22/sq ft/year on a gross basis. The landlord pays $8,000/year in property taxes, $3,500 in insurance, and $9,500 in maintenance. What is the annual NOI?
- If a property has a NOI of $45,000 and a cap rate of 7.5%, what is the estimated value?
- A Nebraska farmland parcel is described as the NW¼ of Section 14, Township 5N, Range 3W. How many acres does this parcel contain?
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →