Real Estate Math
A Washington buyer closes on March 15. Annual property taxes are $6,000 (paid in arrears). The seller owes taxes from January 1 to March 15 (73 days). Tax owed by seller:
A$1,000
B$1,200✓ Correct
C$1,315
D$1,500
Explanation
Daily tax = $6,000 ÷ 365 = $16.44. Seller owes 73 days × $16.44 = $1,200.27 ≈ $1,200. Using the values given ($6,000), apply the appropriate formula.. The correct answer is $1,200.. This is a common calculation on the Washington real estate exam.
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