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James Neal James Neal
wrote...
Posts: 5
Rep: 1 0
2 years ago
If closing is on May 19, what amount would be charged to the buyers on a total property tax of$4,320 paid by the sellers for the current tax year? Remember to use the standard number of days in the month. (Answer is $504)
(FYI: Real Estate may use 30-days as a month-month standard)
Please advise a step by step how to so I may understand.
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wrote...
Valued Member
Educator
2 years ago
Thanks for providing the answer, it helped me figure it out:



let me know if it doesn't make sense
James N. Author
wrote...
2 years ago
I understand the process until the June part. The problem does not state anything about June.
You do have the correct answer thought. Can you please explain more?
Thank you..
wrote...
Valued Member
Educator
2 years ago
@James, I guessed the end of June because it was the only possible date that would get me to $504. June also marks the end of the 2nd fiscal quarter. Honestly, I don't know whether the end of June is the standard, but it's the only way I got it to work.
James N. Author
wrote...
2 years ago
I understand. Unfortunately, my online school hasn't got back to me on a process.
So the feedback you provided has helped a lot nevertheless.
Thank you
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