Real Estate Math
A Connecticut house sells for $532,000. The seller's transfer tax rate is 0.75%. What is the transfer tax?
A$3,375
B$3,990✓ Correct
C$4,455
D$5,320
Explanation
Transfer (conveyance) tax = $532,000 × 0.0075 = $3,990. To solve this, multiply the relevant values: $532,000 at 0.75%.. The correct answer is $3,990.. This is a common calculation on the Connecticut real estate exam.
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