Real Estate Math
A Delaware property's appraised value is $325,000. The assessment ratio is 75% of appraised value. What is the assessed value?
A$231,250
B$243,750✓ Correct
C$260,000
D$275,000
Explanation
Assessed Value = Appraised Value × Assessment Ratio = $325,000 × 0.75 = $243,750. To solve this, multiply the relevant values: $325,000 at 75%.. The correct answer is $243,750.. This is a common calculation on the Delaware real estate exam.
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