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13 October, 01:30

A house is closed on April 15. The property taxes are $960 for the year. They have not been paid. How much does the buyer receive from the seller at closing

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  1. 13 October, 01:42
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    divide the total taxes 960 by 365 (number of days in the year) to get per day tax which is 2.63$. Days from 1 January to April 15 are 105, these 105 days times 2.63$ = 276.15.

    so, now we have calculated the amount of taxable by seller at closing date and buyer will receive the same from seller i. e 276.15 $.
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