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When real estate is sold, the year's property taxes are allocated to the vendor and the purchaser in proportion to the number of days that
When real estate is sold, the year's property taxes are allocated to the vendor and the purchaser in proportion to the number of days that each party owns the property during the year. If the purchaser took possession of a property effective August 8 (of a 365-day year), how will the year's property taxes of $2849 be allocated to the vendor and purchaser?
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