Real Estate Math
A Louisiana property with a $520,000 market value is assessed at 10%. The taxable assessed value after the $7,500 homestead exemption is:
A$44,500✓ Correct
B$52,000
C$37,825
D$45,000
Explanation
Assessed value = $520,000 × 10% = $52,000. After homestead exemption = $52,000 − $7,500 = $44,500. To solve this, multiply the relevant values: $520,000 and $7,500 at 10%.. The correct answer is $44,500.. This is a common calculation on the Louisiana real estate exam.
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