Real Estate Math
A Vermont commercial property sells for $1,200,000. What is the total Vermont Property Transfer Tax?
A$6,000
B$14,250✓ Correct
C$15,000
D$14,500
Explanation
PTT: 0.5% x $100,000 = $500; 1.25% x $1,100,000 = $13,750; Total = $14,250. Using the values given ($1,200,000), apply the appropriate formula.. The correct answer is $14,250.. This is a common calculation on the Vermont real estate exam.
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