The Property Tax Year Runs from January 1 to December

question 12

Multiple Choice

The property tax year runs from January 1 to December 31. The taxes on a certain house are $1,440 this year, none of which has been paid. If the house sells, not in a leap year, and the closing date is June 12, the

• A) buyer owes the seller $796.93.
• B) buyer owes the seller $643.07.
• C) seller owes the buyer $796.93.
• D) seller owes the buyer $643.07.

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Definitions:

Failure to Warn

Legal terminology denoting a situation where an individual or entity does not adequately inform others about potential risks or dangers.

Legal Proceedings

Formal steps or actions taken within the judicial system to resolve disputes, enforce laws, or seek justice.

Notify

To inform or tell someone about something; to give notice.

Ethical Responsibility

An obligation to act in ways that are morally right, fair, and beneficial to both individuals and society as a whole.