Real Estate Math
A home sold for $412,000 in Georgia. What is the state transfer tax owed ($1 per $500 of consideration)?
AA. $412
BB. $824✓ Correct
CC. $412,000
DD. $820
Explanation
Transfer tax = $412,000 ÷ $500 = 824 increments × $1 = $824. Using the values given ($412,000, $1), apply the appropriate formula.. The correct answer is B. $824.. This is a common calculation on the Georgia real estate exam.
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