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Real Estate MathMEDIUMFREE

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?

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Question & Answer

Review the question and all answer choices

A

$1,500

Correct Answer
B

$4,500

C

$3,000

D

$2,000

Why is this correct?

Seller owns for 3 months (Jan-Mar). $6,000 ÷ 12 = $500/month × 3 months = $1,500.

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