Real Estate Math
A home is assessed at $220,000 and the tax rate is 1.75%. Annual taxes are paid monthly in escrow. What is the monthly escrow amount for taxes?
A$275.00
B$291.67
C$320.83✓ Correct
D$367.50
Explanation
Annual taxes = 1.75% × $220,000 = $3,850.
Related Idaho Real Estate Math Questions
- A property appreciated 5% per year for 3 years. If the original value was $250,000, what is its current value?
- A property's assessed value is $195,000. If property taxes are $2,925 annually, what is the effective tax rate (as a percentage)?
- A property is assessed at 80% of its market value of $300,000. The property tax rate is $12 per $1,000 of assessed value. What is the annual property tax?
- A commercial space is leased at $22 per square foot per year (NNN). The tenant's share is 3,500 square feet. What is the tenant's monthly base rent?
- A buyer makes a $3,000 earnest money deposit on a $250,000 home. What percentage of the purchase price is the earnest money?
- A property sold for $525,000. The buyer's agent receives 3% of the sale price, and the buyer's agent's broker takes 30% of that. How much does the buyer's agent personally keep?
- A rectangular lot measures 150 feet wide by 200 feet deep. What is the area in acres? (1 acre = 43,560 sq ft)
- An Idaho seller receives a net of $311,250 after paying a 7.5% commission. What was the gross sale price?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →