Real Estate Math
Using the Georgia transfer tax rate of $1 per $500, what is the transfer tax on a $275,000 sale?
A$275
B$412
C$550✓ Correct
D$825
Explanation
Transfer tax = $275,000 ÷ $500 × $1 = 550 × $1 = $550. Using the values given ($1, $500,), apply the appropriate formula..
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