Escrow & Title
Georgia's transfer tax rate is $1 per $1,000 (or fraction thereof) of the consideration. What is the transfer tax on a $275,000 sale?
A$275.00✓ Correct
B$247.50
C$275.50
D$280.00
Explanation
Transfer tax = $275,000 ÷ 1,000 × $1 = $275.00. Using the values given ($1, $1,000), apply the appropriate formula.. The correct answer is $275.00.. This is a common calculation on the Georgia real estate exam.
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