Real Estate Math
A property is assessed at 10% of its $420,000 market value. The tax rate is $8.50 per $100 of assessed value. What is the annual property tax?
A$3,570✓ Correct
B$35,700
C$357
D$4,200
Explanation
Assessed value = $420,000 × 10% = $42,000. Tax = $42,000 ÷ $100 × $8.
Related Arizona Real Estate Math Questions
- A lot that is 1/4 of a mile wide by 1/2 of a mile deep contains how many acres?
- A building cost $600,000 to build and has a useful economic life of 40 years. Using straight-line depreciation, what is the annual depreciation amount?
- A lot measures 80 feet wide by 120 feet deep and sold for $7.50 per square foot. What was the sale price?
- A property has an assessed value of $180,000. The city tax rate is $12.50 per $1,000 of assessed value, and the county tax rate is $8.75 per $1,000. What is the total annual property tax?
- An Arizona property has an annual property tax bill of $3,600. The tax is paid in two installments. The seller is closing on October 1. Using a 365-day proration, how many days of taxes has the seller already 'used' (January 1 through September 30)?
- A buyer in Arizona closes on March 15. The annual property taxes are $4,380 and are paid in arrears. Using a 365-day year, how much does the seller owe the buyer in a tax proration (January 1 through March 14)?
- An investment property sold for $500,000. The investor paid $350,000 five years ago. What is the percentage gain?
- A lender requires a maximum 43% debt-to-income (DTI) ratio. A borrower has monthly debt payments of $750 and gross monthly income of $5,800. Can they add a mortgage payment of $1,200?
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →