Florida Real Estate Practice Exam 2025 - Free Real Estate Practice Questions and Study Guide

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Question: 1 / 400

How is the daily amount of property taxes calculated for a mid-month closing?

Divide monthly tax amount by 30

The other options are incorrect because they do not account for the mid-month closing and are based on a full month of property taxes. Option B uses the total number of days in a month, which would result in a higher daily amount for a mid-month closing. Option C simply multiplies the monthly tax amount by the total number of days, also resulting in a higher daily amount. Option D is based on annual taxes and does not take into account the specific monthly taxes. Option A is the most accurate because it specifically divides the monthly tax amount by 30 days, which would result in a more precise daily amount for a mid-month closing.

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Divide monthly tax amount by 31

Multiply monthly tax amount by days in a month

Annual taxes divided by 365 days and then multiply by days till closing

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Florida Real Estate Practice Exam 2025 - Free Real Estate Practice Questions and Study Guide

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