Real Estate Math
A Vermont property has an assessed value of $180,000 with a common level of appraisal (CLA) of 90%. What is the estimated fair market value?
A$162,000
B$180,000
C$200,000✓ Correct
D$198,000
Explanation
Fair Market Value = Assessed Value ÷ CLA = $180,000 ÷ 0.90 = $200,000.
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