Real Estate Math
Closing is set for July 15. Annual property taxes of $3,600 have been prepaid by the seller for the full year. What is the buyer's tax proration credit to the seller?
A$1,500
B$1,650✓ Correct
C$1,800
D$900
Explanation
From July 15 to Dec 31 = 5.5 months (half of July + Aug–Dec = 0.
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