Real Estate Math
A Massachusetts property sells for $830,000. The deed excise tax rate is $4.56 per $1,000. What is the excise tax?
A$3,784.80✓ Correct
B$4,150.00
C$3,700.00
D$4,000.00
Explanation
Deed excise = ($830,000 ÷ $1,000) × $4.56 = 830 × $4.56 = $3,784.80. Using the values given ($830,000, $4.56), apply the appropriate formula.. The correct answer is $3,784.80.. This is a common calculation on the Massachusetts real estate exam.
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