pro·rate

[proh-reyt, proh-reyt] verb, pro·rat·ed, pro·rat·ing.
verb (used without object)
1.
to make an arrangement on a basis of proportional distribution.
verb (used with object)
2.
to divide, distribute, or calculate proportionately.

Origin:
1855–60, Americanism; partial translation of pro rata

pro·rat·a·ble, adjective
pro·ra·tion, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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World English Dictionary
prorate (prəʊˈreɪt, ˈprəʊreɪt) [Click for IPA pronunciation guide]
 
vb
chiefly (US), (Canadian) to divide, assess, or distribute (something) proportionately
 
[C19: from pro rata]
 
pro'ratable
 
adj
 
pro'ration
 
n

Collins English Dictionary - Complete & Unabridged 10th Edition
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American Heritage
Cultural Dictionary

prorate definition


To divide or distribute a sum of money proportionately. For example, if one owned an automobile for only three months, an insurance company would prorate the annual premium by charging only one-quarter of it.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
If you cannot withhold the current obligation and the premium, prorate the
  arrears and withhold the current plus prorated arrears.
If you owned or rented only part of the year, you must prorate your credit.
Part-year returns must prorate the tax paid to another state.
Use general procedures for life expectancy cases to prorate and offset.
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