Real Estate Math
An Indiana property is assessed at $180,000. It sells for $220,000. What is the assessment ratio?
A72.2%
B75%
C81.8%✓ Correct
D82%
Explanation
Assessment ratio = Assessed value ÷ Sale price = $180,000 ÷ $220,000 = 0.8182 = 81.8%. Using the values given ($180,000, $220,000), apply the appropriate formula.. The correct answer is 81.8%.. This is a common calculation on the Indiana real estate exam.
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