Real Estate Math
If a Hawaii home sells for $550,000 and the transfer tax rate is $1.00 per $1,000, what is the conveyance tax?
AA. $550✓ Correct
BB. $5,500
CC. $55
DD. $5,000
Explanation
$550,000 / $1,000 × $1.00 = $550 conveyance tax.
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