Real Estate Math
A Missouri property's assessed value is $95,000 and the tax rate is $8.80 per $100. What are the annual taxes?
A$8,360✓ Correct
B$8,800
C$7,600
D$9,500
Explanation
Annual tax = ($95,000 ÷ $100) × $8.80 = 950 × $8.80 = $8,360. Using the values given ($95,000, $8.80), apply the appropriate formula.. The correct answer is $8,360.. This is a common calculation on the Missouri real estate exam.
Related Missouri Real Estate Math Questions
- A Missouri rental property has an annual net operating income (NOI) of $21,000. An investor requires an 8% return (cap rate). What is the maximum price the investor should pay for this property?
- A Missouri home is assessed at $72,000. The tax rate is $9.50 per $100. What are the monthly tax escrow payments?
- A Missouri investment property costs $280,000. The investor expects 12% annual return. Annual NOI needed is:
- A Missouri seller's net proceeds calculation: Sale price $290,000 minus 6% commission minus $3,500 closing costs. Net proceeds are:
- A Missouri investment property generates $4,200/month rent. Annual vacancy is 8% and operating expenses are $18,500. What is the annual NOI?
- A Missouri commercial lease is $24 per square foot per year for 3,500 square feet. Monthly rent is:
- A Missouri seller wants to net $240,000. Agent commission is 6%, closing costs are $3,000. What must the home sell for?
- A Missouri farm is described as Township 47 North, Range 28 West. Each township is 6 miles square. The area of one township is:
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →