Real Estate Math
A Kansas property has taxable assessed value of $30,000 and the mill levy is 95 mills. What are the annual property taxes?
A$2,250
B$2,500
C$2,850✓ Correct
D$3,000
Explanation
$30,000 × (95 ÷ 1,000) = $30,000 × 0.095 = $2,850.
Related Kansas Real Estate Math Questions
- A Kansas property has an assessed value of $28,000 (at 11.5% of appraised value). What is the appraised value?
- A Kansas seller must pay off a $185,000 first mortgage and $22,000 HELOC at closing. Commission is 6%. Transfer taxes are $500. The home sells for $285,000. What is the net to seller?
- A Kansas property closes on March 15. Annual property taxes are $2,190. Using a 365-day year, what is the seller's tax proration (seller pays taxes Jan 1 through March 15)?
- A Kansas commercial property produces $72,000 in annual NOI. Investors require a 9% cap rate. What is the property's value?
- A Kansas buyer puts 5% down on a $180,000 home. The lender charges 1.5 discount points. How much are the points in dollars?
- A Kansas property appraised at $185,000 has a replacement cost new of $175,000 for the improvements. The land value is $40,000. Depreciation is 15%. What is the indicated value using the cost approach?
- A Kansas broker earns 6% on a $385,000 sale. She gives 50% of the total to the cooperating brokerage. How much does she keep from the transaction?
- A Kansas building has 24 units. Two units are vacant. What is the occupancy rate?
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →