Real Estate Math
A NH home's assessed value is $250,000. The town's equalization ratio is 110% (property is over-assessed). What is the estimated market value?
A$275,000
B$227,273✓ Correct
C$250,000
D$222,222
Explanation
If the equalization ratio is 110%, assessed values average 110% of market value. Market Value = Assessed Value / Equalization Ratio = $250,000 / 1.
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