Real Estate Math
What is the transfer tax on a Georgia home sold for $525,000?
A$525
B$1,050✓ Correct
C$787.50
D$2,100
Explanation
Transfer tax = $525,000 ÷ $500 × $1 = 1,050 × $1 = $1,050. Using the values given ($525,000), apply the appropriate formula..
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