Real Estate Math

A property sold for $425,000. The Georgia intangible recording tax on a new $340,000 first mortgage is $3 per $1,000 (rounded up). What is the intangible tax?

AA. $850

BB. $1,020✓ Correct

CC. $1,275

DD. $1,700

Explanation

Georgia intangible recording tax = $3 per $1,000 of loan amount. $340,000 ÷ $1,000 = 340 × $3 = $1,020.

Related Georgia Real Estate Math Questions

A buyer has a monthly gross income of $9,000. The lender's back-end DTI limit is 43%. The buyer's monthly non-housing debts are $800. What is the maximum total monthly debt the buyer can have?
A property generates potential gross income of $120,000. Vacancy and collection loss is estimated at 5%. Operating expenses are $40,000. What is the NOI?
A property was purchased for $450,000 and depreciated at 2.5% per year for 10 years for income tax purposes. What is the accumulated depreciation amount?
A property has a gross income of $75,000, expenses of $30,000, and debt service of $25,000. What is the before-tax cash flow?
A seller purchased a home 5 years ago for $280,000 and sells it today for $364,000. What is the percentage increase in value?
A broker charges a 6% commission and splits it 50/50 with a cooperating broker. Each broker pays their respective salesperson 65%. A selling salesperson sold a $320,000 home. What is their commission?
A buyer assumes an existing mortgage with a balance of $180,000 at closing. The seller originally borrowed $200,000. The buyer will be responsible for what amount in addition to the down payment?
A seller accepts an offer of $389,000. The listing agent's brokerage and selling agent's brokerage each receive 3% of the sale price. How much does each brokerage receive?

Practice More Georgia Real Estate Questions

1,500+ questions covering all exam topics. Start free — no signup required.

Take the Free Georgia Quiz →