Practice
Florida Real Estate Proration Practice
Prorations are where most Florida candidates lose easy math points. Learn the convention, follow the steps, then try the practice questions below.
The 4-step method
- Find the daily rate: annual amount ÷ 365 (exam convention unless told otherwise).
- Count the seller's days. In Florida exam questions the buyer owns the day of closing, so the seller's days run up to the day before closing.
- Multiply: daily rate × days.
- Decide the direction. Unpaid items paid in arrears (Florida property tax) are a debit to the seller, credit to the buyer. Items the seller prepaid are a credit to the seller.
Property tax proration
seller share = (annual tax ÷ 365) × days from Jan 1 to day before closing
Worked example: Annual tax $3,650, closing March 1 (non-leap year): seller days = 31 + 28 = 59 → $10 × 59 = $590 debit seller, credit buyer.
Source: s. 197.333, F.S. (taxes due Nov 1, paid in arrears)
Quick quiz
Question 1 of 3
Annual taxes $5,840, closing August 15 (non-leap year, buyer owns closing day). Seller's share?
- $3,616
- $3,632
- $2,224
- $3,600
Show answer
A. $3,616 Jan 1–Aug 14 = 226 days; $16/day × 226 = $3,616. Source: Computation; s. 197.333, F.S.
Question 2 of 3
Unpaid property taxes at closing are entered as:
- Credit seller, debit buyer
- Debit seller, credit buyer
- Debit both
- Not shown
Show answer
B. Debit seller, credit buyer The seller owes for the days they owned but the buyer will pay the bill in November. Source: s. 197.333, F.S.
Question 3 of 3
The seller collected $2,100 rent for September. Closing is September 11 (30-day month, buyer owns closing day). Buyer credit?
- $700
- $1,400
- $1,330
- $770
Show answer
B. $1,400 Buyer days Sep 11–30 = 20; $70 × 20 = $1,400 credit buyer. Source: Computation
How close are you to a 75?
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