Real Estate Math
An Alaska property has a market value of $480,000 and is assessed at 85% of market value. The mill rate is 12 mills. What is the annual tax?
A$4,896✓ Correct
B$5,808
C$6,048
D$7,200
Explanation
Assessed value = $480,000 × 85% = $408,000. Tax = $408,000 × 12 ÷ 1,000 = $408 × 12 = $4,896.
Related Alaska Real Estate Math Questions
- An Alaska buyer pays 2 points on a $240,000 mortgage. What is the dollar cost of the points?
- An Alaska investor buys a property for $200,000 and sells it two years later for $230,000. Selling costs are $14,000. What is the net profit?
- A broker earns a 5% commission on the sale of a $480,000 property and splits it 50/50 with the cooperating broker. The listing salesperson receives 60% of the listing broker's half. How much does the listing salesperson earn?
- A buyer makes a $425,000 offer on a home. The lender requires a 75% LTV. What is the required down payment?
- A loan of $200,000 at 6% annual interest is interest-only for the first year. What are the total interest payments in the first year?
- An Alaska property manager collects $8,400 in monthly rents and charges a 7% management fee plus a 50% leasing fee on first month's rent for one new tenant paying $1,200/month. What are the total fees this month?
- A seller nets $280,000 after paying a 6% commission. What was the original selling price (rounded to nearest dollar)?
- An Alaska property sold for $525,000. The buyer paid 3 points on a $420,000 loan. How much did the buyer pay in points?
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →