Real Estate Math
A NH home assessment of $320,000 has an equalization ratio of 85%. What is the estimated market value?
A$272,000
B$376,471✓ Correct
C$320,000
D$384,000
Explanation
Market Value = Assessed Value / Equalization Ratio = $320,000 / 0.85 = $376,471. To solve this, multiply the relevant values: $320,000 at 85%.. The correct answer is $376,471.. This is a common calculation on the New Hampshire real estate exam.
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