Real Estate Math
A Delaware property is appraised at $340,000 with a county assessment ratio of 60%. What is the assessed value?
A$204,000✓ Correct
B$340,000
C$136,000
D$240,000
Explanation
Assessed Value = Appraised Value × Assessment Ratio = $340,000 × 60% = $340,000 × 0.60 = $204,000.
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