Real Estate Math
An Iowa property is assessed at $260,000. The residential rollback rate is 56.4%. What is the taxable (rolled-back) value?
A$128,640
B$135,000
C$142,640
D$146,640✓ Correct
Explanation
Rollback value = $260,000 × 0.564 = $146,640. To solve this, multiply the relevant values: $260,000 at 56.4%.. The correct answer is $146,640.. This is a common calculation on the Iowa real estate exam.
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