Real Estate Math
A property in Oregon has a market value of $480,000 and is assessed at 90% of market value. The tax rate is $12.50 per $1,000 of assessed value. What is the annual property tax?
A$5,400✓ Correct
B$6,000
C$6,750
D$5,700
Explanation
Assessed value: $480,000 × 0.90 = $432,000. Annual tax: $432,000 × ($12.50 ÷ $1,000) = $432,000 × 0.0125 = $5,400.
Related Oregon Real Estate Math Questions
- 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 Oregon seller's net sheet shows a sale price of $595,000, existing mortgage of $320,000, commission of 5.5%, and other closing costs of $6,200. What are the seller's estimated net proceeds?
- A borrower wants to know how many months until they have paid down their $300,000 loan to 80% LTV (so they can cancel PMI). If the original property value was $375,000 and the monthly principal reduction averages $250 per month, how many months would it take?
- An Oregon property's NOI is $56,000. The cap rate is 6.5%. What is the indicated value?
- A buyer makes a 15% down payment on a $420,000 Oregon home. What is the LTV ratio?
- An Oregon apartment complex has a purchase price of $1,200,000 and a GRM of 100. What is the estimated monthly rent roll?
- An Oregon home was purchased for $295,000. After 8 years the owner sells it for $442,000. What is the total percentage gain?
- 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?
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →