Nevada Real Estate Exam Math: Transfer Tax, Community Property & Commission

Math questions appear throughout Nevada's 120-question exam. Here are the key formulas.

Nevada Transfer Tax **Rate**: $1.95 per $500 of consideration. - **Example**: $450,000 sale: $450,000 / $500 x $1.95 = 900 x $1.95 = **$1,755** - **Example**: $675,000 sale: $675,000 / $500 x $1.95 = 1,350 x $1.95 = **$2,632.50**

Community Property Equity Split **Example**: Las Vegas condo purchased during marriage for $380,000. Current value: $510,000. Outstanding mortgage: $220,000. - Equity: $510,000 - $220,000 = $290,000 - Each spouse's share: $290,000 / 2 = **$145,000**

Commission **Example**: Home sells for $580,000. Commission 5%, split 50/50. Listing agent earns 55%. - Total: $580,000 x 0.05 = $29,000; Listing side: $14,500 - Agent: $14,500 x 0.55 = **$7,975**

Cap Rate **Example**: Rental generates $54,000 NOI. Cap rate 6%. - Value = $54,000 / 0.06 = **$900,000**

Proration (365-day year for Nevada) **Example**: Taxes $5,475. Closing September 30. - Daily: $5,475 / 365 = $15/day; Seller's days (Jan–Sept): 273 - Seller's credit to buyer: 273 x $15 = **$4,095**

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