Answer:
The seller is responsible for paying $2,698 in property taxes while the buyer should pay $552.
Explanation:
When you pay taxes in arrears, it means that you are going to pay your property taxes during the final month of the year.
If the taxes are $3,250, we must divide it by 365 days = $8.9041 per day
The seller is responsible for paying all the taxes prior to November 10 and the buyer should pay for the taxes from November 10 to December 31.
The buyer must pay taxes for 62 days (21 days in November + 31 days in December) = $8.9041 x 62 = $552.05 ≈ $552
The seller must pay taxes for 303 days = $8.9041 x 303 = $2,697.95 ≈ $2,698
