Real Estate Math
Maine's lodging tax on vacation rentals is collected on rentals of fewer than how many days?
A7 days
B14 days
C28 days✓ Correct
D90 days
Explanation
Maine's lodging tax applies to accommodations rented for fewer than 28 days. Rentals of 28 days or more are generally not subject to the lodging/accommodations tax.
Related Maine Real Estate Math Questions
- A Maine property is listed at $519,000. After 60 days, the agent suggests a 4% price reduction. The new list price would be:
- A Maine home was purchased for $220,000 and the buyer obtains an 80% LTV mortgage. If the interest rate is 6% and the loan is fully amortized in 30 years, the loan amount is:
- A property sold for $295,000. The listing broker and selling broker split a 6% commission equally. Each broker then pays their agent 55% of their share. How much does each agent earn?
- A Maine property measures 2.5 acres. How many square feet is this?
- A Maine property's assessed value is $180,000. The tax rate is 20 mills. What is the annual property tax?
- A Maine buyer assumes a mortgage with a balance of $185,000 at 5% annual interest. What is the interest portion of the first monthly payment?
- A Maine property's annual gross rent is $48,000 and the sale price is $480,000. The gross rent multiplier (GRM) is:
- A Maine agent lists 6 properties in a quarter. Two sell for $280,000 (5% commission), two sell for $350,000 (5.5% commission), and two sell for $425,000 (5% commission). Total commissions earned by the brokerage are:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →