Real Estate Math
A Wisconsin home's annual property tax is $5,280 paid in arrears. The closing is on April 30. Using a 360-day year, how much does the seller owe the buyer as a tax proration credit?
A$1,760✓ Correct
B$1,847
C$1,920
D$2,040
Explanation
Days owned by seller (Jan 1–Apr 30) = 120 days. Daily rate = $5,280 ÷ 360 = $14.
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