Real Estate Math
A Mississippi property's market value is $250,000. It is assessed at 15% of market value. The tax rate is 80 mills. The annual tax is:
A$3,000✓ Correct
B$2,000
C$1,500
D$4,000
Explanation
Assessed value = $250,000 × 15% = $37,500. Tax = $37,500 × (80 ÷ 1,000) = $37,500 × 0.
Related Mississippi Real Estate Math Questions
- A Mississippi property's net operating income is $22,500. If its value is $300,000, the capitalization rate is:
- A Mississippi seller wants to net $180,000 after paying off a $95,000 mortgage and a 5% commission. The minimum selling price required is approximately:
- A Mississippi commercial building has 10,000 square feet. The rent is $12 per square foot per year. Annual gross rent is:
- A Mississippi home is assessed at 10% of market value. The tax rate is 80 mills. If the market value is $200,000, the annual tax is:
- A 50' × 120' residential lot in Jackson, Mississippi is being fenced on three sides (both 120' sides and one 50' end). How many linear feet of fencing are needed?
- A Mississippi investor purchased a property for $140,000 with a $28,000 down payment. The loan-to-value ratio is:
- A Mississippi commercial lease has a base rent of $3,000 per month and a percentage rent of 5% of gross sales above $500,000 annually. If annual gross sales are $600,000, what is the total annual rent?
- A Mississippi agent earns $22,500 in commission on a $750,000 commercial sale. The commission rate is:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →