Real Estate Math
A Wyoming home closes on September 1. Annual property taxes of $3,600 are paid in arrears on December 31. Using a 360-day year, how much does the seller owe the buyer in prorated taxes at closing?
A$1,800
B$2,100
C$2,400✓ Correct
D$3,000
Explanation
Seller owes taxes from January 1 through August 31 (8 months). Daily rate = $3,600 ÷ 360 = $10/day.
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