Real Estate Math
If a Virginia home is assessed at 90% of market value and the tax bill is $2,700 with a rate of $1.00 per $100, what is the market value?
A$270,000
B$300,000✓ Correct
C$243,000
D$280,000
Explanation
Assessed value = $2,700 ÷ ($1.00/$100) = $270,000.
Related Virginia Real Estate Math Questions
- A Virginia salesperson earns a 2.8% co-op commission on a $525,000 sale. The broker takes 35% of the commission. What does the salesperson net?
- A Virginia property is assessed at 80% of its market value of $500,000. The tax rate is $1.10 per $100 of assessed value. What are the annual property taxes?
- A Virginia agent sold 18 homes in a year at an average price of $340,000 with a 3% buyer's agent commission. What was the agent's gross commission income?
- A Virginia commercial property has an effective gross income of $180,000, operating expenses of $72,000, and a cap rate of 7%. What is the estimated value?
- A Virginia rental property produces $48,000 in gross annual rent with a 10% vacancy rate and $18,000 in operating expenses. What is the Net Operating Income (NOI)?
- A Virginia rental property generates $2,400/month. Annual expenses are $10,000. If the property sells for 12 times annual NOI, what is the sale price?
- A Virginia buyer's total monthly housing payment (PITI) is $2,400. Their gross monthly income is $7,200. What is their front-end DTI ratio?
- A Virginia agent lists a home for $389,000. Buyers typically offer 96% of list in this market. What offer amount should the agent suggest is typical?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →