Assume annual Arizona property taxes of $3,120.00 are unpaid. The contract requires proration on a 360-day year, and the seller owns the day of closing. Closing is on September 20, 2026. What amount is the seller's prorated share of taxes?
Correct Answer
B) $2,279.33
Seller days = 263. Seller share = $3,120.00 × 263 ÷ 360 = $2,279.33.
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What annual Arizona property tax follows from a value base of $510,000.00, an assessment ratio of 10%, and a tax rate of $10.55 per $100 of assessed value?
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