Real Estate Math
A Maine home is assessed at $185,000 with a homestead exemption of $20,000 applied. The taxable assessed value is:
A$165,000✓ Correct
B$170,000
C$185,000
D$205,000
Explanation
Taxable value = $185,000 − $20,000 (homestead exemption) = $165,000. Using the values given ($185,000, $20,000), apply the appropriate formula.. The correct answer is $165,000.. This is a common calculation on the Maine real estate exam.
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