Real Estate Math
A Missouri property has a market value of $225,000. Using a residential assessment ratio of 19%, what is the assessed value?
A$38,250
B$42,750✓ Correct
C$45,000
D$67,500
Explanation
Assessed Value = Market Value x Assessment Ratio = $225,000 x 0.19 = $42,750. To solve this, multiply the relevant values: $225,000 at 19%.. The correct answer is $42,750.. This is a common calculation on the Missouri real estate exam.
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