What is the additional adjustment amount needed on 12/31/X2 after the 20X2 actual property tax bill is received?
 

Tax Bill for year ending 12/31/X1 Assume we will estimate our 20X2 bill based on the 20X1 bill Assume we do not know the actual 20X2 bill until it is sent on: Tax Bill for year ending 12/31/X2 Property Tax Payment due $300,000 12/31/X2 $312,000 2/1/X3