Real Estate MathIntermediateDelaware Exam
A property's assessed value is $240,000. The tax rate is 1.25%. What is the annual property tax?
A$2,400
B$3,000Correct
C$3,600
D$4,200
Why $3,000 Is Correct
Answer B: $3,000
Annual tax = $240,000 × 1.25% = $240,000 × 0.
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
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