Real Estate Math
An Iowa property assessed at $185,000 has a homestead credit that reduces taxable value by $4,850. At a mill rate of 28, what are the annual taxes?
A$5,043.00✓ Correct
B$4,907.00
C$5,180.00
D$5,236.00
Explanation
Taxable value = $185,000 − $4,850 = $180,150. Tax = $180,150 × 28 ÷ 1,000 = $5,044.
Related Iowa Real Estate Math Questions
- A 6-unit apartment building in Iowa has each unit renting for $750/month. What is the annual gross potential income?
- An Iowa homeowner purchased a home for $145,000 and sold it for $218,000 five years later. What was the percentage increase in value?
- A rectangular Iowa farm field measures 1/4 mile by 1/2 mile. How many acres does it contain? (1 mile = 5,280 feet; 1 acre = 43,560 sq ft)
- An Iowa 160-acre farm sells for $9,500 per acre. What is the total purchase price?
- An investment property has a monthly gross income of $4,200 and a vacancy rate of 8%. What is the annual effective gross income?
- An Iowa property is listed at $149,900. It sells at 98% of list price. The commission is 6%. How much commission is paid?
- An Iowa home appreciated from $160,000 to $192,000. What is the percentage of appreciation?
- A salesperson earns 60% of the commission paid to the brokerage. The brokerage receives a 5% commission on a $310,000 sale. How much does the salesperson earn?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →