What is PRORATED?

This is a proportion that is usually time based and is used to calculate an amount. For example, you may start to rent a property in the middle of the billing cycle so you will be prorated only your share of the bill and not the whole cycle.

More On This Topic



Link to This Definition
Did you find this definition of PRORATED helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary