Real Estate Math
A Vermont property has a market value of $350,000. The town's Common Level of Appraisal is 85%. What is the assessed value on the grand list?
A$297,500✓ Correct
B$350,000
C$411,765
D$306,000
Explanation
Assessed Value = Market Value × CLA = $350,000 × 0.85 = $297,500. The CLA of 85% means the town's assessments average 85% of market value. Vermont uses CLA to equalize education property taxes across towns with different assessment ratios.
Related Vermont Real Estate Math Questions
- A Vermont investment property generates $3,200/month gross rent. Annual expenses are $12,480. Using a 7% cap rate, what is the property value based on NOI?
- A Vermont seller accepts an offer of $419,000. The listing broker's commission is 5%. The listing and selling brokers split it 55%/45%. How much does the selling (buyer's) broker receive?
- A Vermont buyer's monthly mortgage payment is $1,550 PITI. Their gross annual income is $72,000. What is their monthly housing expense ratio?
- A Vermont investor purchases a rental property for $320,000 with a 20% down payment. What is the loan amount?
- A Vermont commercial property sells for $1,200,000. What is the total Vermont Property Transfer Tax?
- A Vermont agent received a $15,600 commission on a transaction. If this represents 2.4% of the sale price, what was the sale price?
- A Vermont investor buys a property for $380,000 and sells it 4 years later for $455,000. What is the total percentage gain?
- A Vermont listing contract specifies a 5.5% commission. The property sells for $385,000. The listing broker and buyer's broker split the commission equally. How much does each broker receive?
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →