In Shelby County,the real property tax year is the calendar year.The real property tax becomes a personal liability of the owner of real property on January 1 in the current real property tax year,2010.The tax is payable on June 1,2010.On April 30,2010,Julio sells his house to Anita for $230,000.On June 1,2010,Anita pays the entire real estate tax of $7,300 for the year ending December 31,2010.How much of the property taxes may Julio deduct?
A)$0.
B)$2,380.
C)$2,400.
D)$4,920
E)None of the above.

Question

Quizplus · Accepted Answer

Julio is liable for the real property tax from January 1, 2010, to April 30, 2010, the date he sold the house to Anita. The amount of property taxes that Julio may deduct is $7,300 x 120/365 = $2,400.

In Shelby County,the Real Property Tax Year Is the Calendar