Real Estate Math
A NC property taxes are paid in arrears. If the annual tax bill is $4,380 and closing occurs on July 1, the seller's prorated tax obligation (for Jan 1–Jun 30 = 181 days) is approximately:
A$2,166
B$2,190
C$2,172✓ Correct
D$2,030
Explanation
Daily tax = $4,380 / 365 = $12/day. Seller's days = 181. Seller's share = 181 x $12 = $2,172. Using the values given ($4,380), apply the appropriate formula.. The correct answer is $2,172.. This is a common calculation on the North Carolina real estate exam.
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