Real Estate Math
A property was appraised at $325,000. The county assesses it at 90% of appraised value. The tax rate is 1.2%. What are the annual taxes?
A$3,510✓ Correct
B$3,720
C$3,900
D$4,120
Explanation
Assessed value = 90% × $325,000 = $292,500. Annual taxes = 1.2% × $292,500 = $3,510. To solve this, multiply the relevant values: $325,000 at 90%.. The correct answer is $3,510.. This is a common calculation on the Idaho real estate exam.
Related Idaho Real Estate Math Questions
- An Idaho commercial lease charges $18 per square foot annually for a 2,400 sq ft space. What is the monthly rent?
- A lot is described as 200 feet wide and 175 feet deep. The buyer paid $8.00 per square foot. What was the total purchase price?
- A property with an NOI of $45,000 sells at a 7.5% capitalization rate. What is the sales price?
- A rectangular lot measures 150 feet wide by 200 feet deep. What is the area in acres? (1 acre = 43,560 sq ft)
- A buyer makes a 10% down payment on a $320,000 home. PMI costs 0.8% of the loan amount annually. What is the monthly PMI payment?
- A seller wants to net $280,000 after paying a 6% commission. What must the property sell for?
- An investment property was purchased for $400,000 and generates $36,000 per year in net operating income. What is the capitalization rate?
- A commercial building has 12,000 square feet of leasable space. Rent is $18 per square foot per year. If the vacancy rate is 10%, what is the annual effective gross income?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →