Real Estate Math
A Kentucky buyer is purchasing a $475,000 home and closing on March 1. The annual property taxes are $5,700. Using a 365-day year, what is the seller's prorated tax credit to the buyer for January and February (59 days)?
A$897.25
B$921.37✓ Correct
C$950.00
D$975.62
Explanation
Daily tax rate = $5,700 ÷ 365 = $15.616/day.
Related Kentucky Real Estate Math Questions
- A Kentucky property has a market value of $195,000. The PVA assesses it at 100% of fair cash value. The tax rate is 1.2% of assessed value. What is the annual property tax?
- A Kentucky home purchased for $150,000 is sold 5 years later for $195,000. What is the percentage increase in value?
- A property sells for $275,000. The buyer puts 20% down and finances the rest. What is the loan amount?
- A Kentucky property has a potential gross income of $48,000/year. Vacancy and credit loss is 8%. What is the effective gross income?
- A residential lot in Louisville measures 50 feet wide by 150 feet deep. The seller wants $25 per square foot. What is the asking price?
- A Kentucky investment property has a gross rent of $60,000/year. The appraiser uses a GIM of 8 to estimate value. What is the estimated value?
- A Kentucky property earns $3,200/month gross rent. Vacancy is 7%, operating expenses are $800/month. What is the monthly NOI?
- A Kentucky borrower has a $300,000 loan at 4.5%. What is the monthly interest in the first month?
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →