Real Estate MathPregunta 112 de 120
Annual property taxes of $4,800 are paid in arrears. At a closing on July 1 (with the year split evenly into two halves), what is the seller's share for the first half of the year using a 360-day proration?
a.$1,200
b.$4,800
c.$2,400
d.$800
Explicación
With taxes paid in arrears, the seller owes for the portion of the year they owned the property. From January 1 to July 1 is half the year, so the seller's share is $4,800 x 6/12 = $2,400.
Practica las 120 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- A buyer pays $280,000 for a home and puts 15% down. How much is the down payment?
- A lot measures 150 feet by 200 feet. What is its area in square feet?
- One acre contains 43,560 square feet. How many acres are in a parcel of 87,120 square feet?
- A home appreciates from $250,000 to $300,000. What is the percentage of increase in value?
- A loan of $200,000 carries a 6% annual interest rate. How much is the interest for the FIRST month (simple interest)?
- A property is assessed at $180,000 and the tax rate is $2.50 per $100 of assessed value. What is the annual property tax?
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con Texas Real Estate Sales Agent Licensing Exam · Cómo revisamos