Real Estate Math
A Massachusetts deed excise tax is $4.56 per $1,000 of sale price. A property sells for $875,000. What is the deed excise?
A$3,990✓ Correct
B$3,930
C$3,750
D$4,560
Explanation
Deed excise = ($875,000 ÷ $1,000) × $4.56 = 875 × $4.56 = $3,990. Using the values given ($4.56, $1,000), apply the appropriate formula.. The correct answer is $3,990.. This is a common calculation on the Massachusetts real estate exam.
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