Real Estate Math
A property in Nashua has an assessed value of $380,000 and the town's mill rate is 20 mills. What is the annual property tax?
A$7,600✓ Correct
B$3,800
C$19,000
D$760
Explanation
Property tax = Assessed Value × Mill Rate / 1,000 = $380,000 × 20 / 1,000 = $7,600 per year. One mill equals $1 per $1,000 of assessed value.
Related New Hampshire Real Estate Math Questions
- A NH buyer puts $55,000 down on a $275,000 home. What is the LTV ratio and will the buyer need PMI on a conventional loan?
- A NH buyer finances $265,000 at 6.75% annual interest. What is the interest due for the first 15 days of ownership (daily interest)?
- A NH buyer's monthly mortgage payment (P&I only) on a $250,000 loan at 7% for 30 years is approximately $1,663. How much of the first payment goes toward interest?
- A NH property management company charges 10% of collected rent. In a month with $18,500 in collected rent, the management fee is:
- A NH home assessment of $320,000 has an equalization ratio of 85%. What is the estimated market value?
- A property is assessed at $240,000 at a rate of 90% of market value. The property tax rate is $18 per $1,000 of assessed value. What are the annual taxes?
- A property's NOI is $36,000 and the cap rate is 8%. What is the indicated value using the income approach?
- A NH seller's adjusted basis in a property is $180,000. They sell it for $295,000. After paying $17,700 in commissions and $3,200 in closing costs, what is the seller's capital gain?
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →