5. What municipality typically determines the amount of local property tax to be paid by owners of real estate? How is the amount determined (describe the process)? 6. What is prorating? Nome 3 items that are likely to be prorated. What document could be used to vehty the amounts of prorating? 7. What document is used to convey title? Name 3 key elements for this document to be legal B. Niime some tax benefits for owners of real estate. (identify at least 2 for owners of investment real estate)