Real Estate Math
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$3,888
B$4,320✓ Correct
C$4,800
D$3,600
Explanation
Annual taxes = ($240,000 ÷ 1,000) × $18 = 240 × $18 = $4,320. To solve this, multiply the relevant values: $240,000 and $18 at 90%.. The correct answer is $4,320.. This is a common calculation on the New Hampshire real estate exam.
Related New Hampshire Real Estate Math Questions
- A broker charges a 6% commission. The seller nets $376,400 after the commission. What was the sale price?
- A rectangular parcel measures 220 feet wide and 330 feet deep. How many acres does it contain? (1 acre = 43,560 sq ft)
- New Hampshire's real estate transfer tax is $0.75 per $100 of purchase price, paid by each party. For a $350,000 sale, what does each party (buyer and seller) pay?
- A NH property has a gross income multiplier (GIM) of 9 and generates $78,000 in gross annual income. What is the estimated property value?
- A buyer puts 20% down on a $310,000 home. What is the loan amount?
- A NH landlord receives first month's rent of $1,650, last month's rent of $1,650, and a security deposit of $1,650 at move-in. What is the total amount collected?
- An investor purchases a $500,000 commercial property with a 25% down payment. The lender requires a loan-to-value ratio no greater than 75%. How large is the mortgage?
- A NH buyer finances $320,000 at 6.5% for 30 years. Using a monthly payment factor of $6.32 per $1,000, what is the approximate monthly PI payment?
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 →