Real Estate Math
A Maryland home is assessed at $280,000. The county tax rate is $1.10 per $100. Annual taxes are:
A$1,540
B$2,800
C$3,080✓ Correct
D$3,280
Explanation
Tax = $280,000 ÷ 100 × $1.10 = 2,800 × $1.10 = $3,080. Using the values given ($280,000, $1.10), apply the appropriate formula.. The correct answer is $3,080.. This is a common calculation on the Maryland real estate exam.
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