A Utah property's tax bill is $4,800 per year. Taxes are due November 30. A sale closes August 15. Seller has paid the full year. How much tax proration credit does the seller receive from the buyer? (Use 365-day year.)

Explanation

Days remaining after August 15 to November 30: Aug 16 days + Sep 30 + Oct 31 + Nov 30 = 107 days. Buyer owes = $4,800 × (107/365) ≈ $1,408. Days from Jan 1 to Aug 15 = 227 days. Seller credits for 227 days if paid in full: Buyer portion = 107/365 × $4,800 ≈ $1,408. Alternatively, if seller has paid and closing is Aug 15, seller gets credit for days Aug 16 – Dec 31 = 138 days: $4,800 × (138/365) ≈ $1,812.