Real Estate Math
A Vermont property sells for $350,000. What is the total Property Transfer Tax owed?
A$1,750
B$3,125
C$3,625✓ Correct
D$4,375
Explanation
Vermont PTT: 0.5% x $100,000 = $500; 1.25% x $250,000 = $3,125; Total = $3,625. Using the values given ($350,000), apply the appropriate formula.. The correct answer is $3,625.. This is a common calculation on the Vermont real estate exam.
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