Real Estate Math
A North Dakota property taxes are $5,400 per year. Closing is May 1. Using 12 months, how much does the seller owe the buyer in prorated taxes (taxes paid in arrears)?
A$1,500
B$1,650
C$1,800✓ Correct
D$2,250
Explanation
Seller's period: Jan 1 through April 30 = 4 months. Proration = $5,400 × 4/12 = $1,800.
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