Real Estate Math
A Bend property sold for $425,000. The county assessor's real market value (RMV) is $410,000 and the maximum assessed value (MAV) is $280,000. Under Oregon's Measure 50 tax system, property taxes are based on:
AThe sale price of $425,000
BThe real market value of $410,000
CThe lower of MAV or RMV — in this case the MAV of $280,000✓ Correct
DThe average of MAV and RMV
Explanation
Under Oregon Ballot Measure 50 (1997), property taxes are calculated on the assessed value, which is the LOWER of the maximum assessed value (MAV) or real market value (RMV). The MAV grows at a maximum of 3% per year.
Related Oregon Real Estate Math Questions
- An Oregon investor purchases a rental property for $650,000 with a down payment of 25%. The monthly mortgage payment on the financed amount at 6.5% for 30 years is $3,079. The annual NOI is $52,000. What is the annual debt service?
- An investor puts $100,000 down on a $400,000 property. The property appreciates 6% in the first year. What is the investor's return on equity (ROE) from appreciation alone?
- A $400,000 mortgage at 7% annual interest for 30 years has a monthly payment of $2,661.21. After the second payment, what is the approximate remaining loan balance?
- A property is listed for $450,000. The buyer offers $430,000, and the seller counters at $441,000. The buyer accepts. What commission does the listing broker earn on a 6% full commission split 50/50 with the buyer's broker?
- An investor purchases an apartment building for $1,200,000. The annual NOI is $96,000. What is the cap rate?
- A house sold for $440,000. The seller paid $18,000 in closing costs, a 5.5% commission, and had a $275,000 mortgage payoff. What were the seller's net proceeds?
- A rectangular property measures 180 feet wide by 250 feet deep. What is the area in square feet and acres?
- A property is purchased for $600,000. The buyer makes a 20% down payment and finances the rest. The lender charges a 1% origination fee. What is the origination fee?
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →