The answer is $10,492.50. Overall, homeowners spend the most on property taxes in New Jersey, which has some of the most elevated effective tax rates in the country.
The state's average practical rate is 2.42% of a home's value, approximated to the national average of 1.07%.
Both the seller and buyer one the duplex for six months per; 1/2 of the year for the seller, and 1/2 for the buyer. Thus, without any other requirements of the purchase agreement, they each equally convey the annual tax bill of
$20,985 / 2 = $10,492.50
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