Real Estate Math
A NH property sells for $487,000. Each party pays their $0.75/$100 transfer tax. What does the seller pay?
A$3,653
B$3,652.50✓ Correct
C$3,650
D$3,651
Explanation
Seller's transfer tax = $0.75 × ($487,000 / $100) = $0.75 × 4,870 = $3,652.50. Using the values given ($487,000, $0.75), apply the appropriate formula.. The correct answer is $3,652.50.. This is a common calculation on the New Hampshire real estate exam.
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