Real Estate Math (alternative)
A Maryland property sells for $475,000. The Maryland state transfer tax is 0.5%, the county transfer tax is 0.5%, and the recordation tax is $3.33 per $500. All taxes together total approximately:
A$7,163
B$7,913✓ Correct
C$8,163
D$9,500
Explanation
State transfer = $475,000 × 0.5% = $2,375.
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