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pro rate definition. To prorate is to divide something in a proportional way, based on time. If your new landlord prorates your first month's rent, she only charges you for the days you've actually lived in your apartment. The meaning of PRORATE is to divide, distribute, or assess proportionately. How to use prorate in a sentence. Prorating divides a cost or payment proportionally based on actual usage rather than a full billing cycle. The term comes from the Latin phrase “pro rata,” meaning “in proportion,” and you’ll see it spelled as “prorate,” “prorated,” or “pro rata” depending on context.

Prorate generally refers to the process of allocating or dividing something proportionally, usually based on use, time, or quantity. This could apply to costs, fees, benefits, refunds, or other types of assets or liabilities. This term is often used in finance, business, and real estate.

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If a cost is prorated, it is divided or assessed in a proportional way. If weather and/or sea conditions cause your trip to return early, the boat fare will be prorated. Collins COBUILD Advanced Learner’s Dictionary. Copyright © HarperCollins Publishers. Webster’s New World College Dictionary, 5th Digital Edition. We will prorate your monthly rent for the remaining 10 days on your lease. [=you will pay 10 days' worth of a month's rent] The player's annual salary was prorated because he only played for the last three months of the season. prorate (prəʊˈreɪt; ˈprəʊreɪt) vb chiefly US and Canadian to divide, assess, or distribute (something) proportionately [C19: from pro rata]

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pro rate definition.