Real Estate Math
Missouri residential property is assessed at 19% of market value. If a home has a market value of $220,000, what is the assessed value?
A$22,000
B$41,800✓ Correct
C$44,000
D$55,000
Explanation
Assessed value = $220,000 × 19% = $41,800. Missouri assesses residential property at 19% of true value in money for property tax purposes.
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