Real Estate Math
A South Dakota property is assessed at $210,000. The assessment ratio is 80% of market value. What is the market value?
A$168,000
B$210,000
C$262,500✓ Correct
D$280,000
Explanation
Market Value = Assessed Value ÷ Assessment Ratio = $210,000 ÷ 0.80 = $262,500. To solve this, multiply the relevant values: $210,000 at 80%.. The correct answer is $262,500.. This is a common calculation on the South Dakota real estate exam.
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