Real Estate Math
What is the transfer tax on an Alaska property selling for $400,000 if the rate is $1 per $500 of value?
A$400
B$800✓ Correct
C$1,600
D$4,000
Explanation
Transfer tax = ($400,000 ÷ $500) × $1 = 800 × $1 = $800. Using the values given ($400,000, $1), apply the appropriate formula.. The correct answer is $800.. This is a common calculation on the Alaska real estate exam.
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