Property taxes on a Texas home are $6,000 per year. The sale closes on April 1. How much does the seller owe for prorated taxes?
Correct Answer
A) $1,500
Seller owns for 3 months (Jan-Mar). $6,000 ÷ 12 = $500/month × 3 months = $1,500.
Why This Is the Correct Answer
Related Concepts
Converting a percentage to a decimal involves dividing the percentage value by 100.
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