Real Estate Math (alternative)
A Maryland property is assessed at $320,000. The tax rate is $1.10 per $100 of assessed value. Annual taxes are:
A$3,200
B$3,520✓ Correct
C$352
D$2,880
Explanation
Annual taxes = ($320,000 ÷ $100) × $1.10 = 3,200 × $1.
Related Maryland Real Estate Math (alternative) Questions
- A Maryland property is assessed at $420,000. The tax rate is $1.15 per $100. Taxes are paid semiannually. Each semiannual payment is:
- A Maryland property's monthly gross rent is $2,800. Annual vacancy allowance is 6%. Annual operating expenses are $10,000. What is the annual NOI?
- A Maryland home appraiser finds the subject property is 200 sq ft larger than a comparable that sold for $350,000. If the value per square foot is $150, the adjusted comparable value is:
- A Maryland triplex with monthly rents of $1,100, $1,200, and $1,350 has annual PGI of:
- Maryland recordation tax is $3.33 per $500 of consideration. A $300,000 sale generates recordation tax of:
- A Maryland buyer's monthly PITI payment is $2,200. Their gross monthly income is $7,000. Their housing expense ratio (front-end DTI) is approximately:
- In Maryland, a property's current assessment is $290,000. Applying the Homestead Tax Credit (10% annual cap), the maximum assessment next year is:
- A Maryland property assessed at $400,000 with a Homestead Tax Credit cap of 10% was assessed at $360,000 last year. The maximum new taxable assessment is:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →