Real Estate Math
A Maryland property sells for $340,000. Maryland state transfer tax is 0.5% and the recordation tax is $3.33 per $500 of consideration. Recordation tax is:
A$1,700
B$2,262✓ Correct
C$2,652
D$3,400
Explanation
$340,000 ÷ $500 = 680 units × $3.33 = $2,264.
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