Some local government raise money for schools and other services by taxing homeowners. If you own a house, you must pay real estate tax. Many homeowners pay part of their real estate tax each month or several times a year. Example 1: Aaron pays $900 a year for the real estate tax on his house. He makes a real estate tax payment quarterly. How much does he pay each quarter for real estate tax?

Divide the real estate tax by 4 to find the amount of the quarterly payment.

Aaron pays $225 quarterly for real estate tax.

You can include a monthly real estate tax payment with your monthly mortgage payment. Then you only have to make one payment to the bank each month. The bank sends the tax payment to the government.

Example 2: Sheena pays $1,080 a year for the real estate tax on her house. She send a tax payment each month to the bank along with her mortgage payment. Her mortgage payment is $615 a month. How much does she pay the bank each month?
Step 1: Divide the real estate tax by 12 to find the monthly tax payment.
$1,080 12 =$90
Step 2: Add the monthly tax payment to the monthly mortgage payment.
$615 + $90 = $705

Sheena pays the bank $705 each month.

Pete pays $1,200 a year for real estate tax on his house. He makes a real estate tax payment quarterly. How much does he pay each quarter for real estate tax? i assume $705.01