Real Estate Math
A property has an assessed value of $560,000 and a market value of $640,000. The assessment ratio is:
A80%
B87.5%✓ Correct
C114.3%
D75%
Explanation
Assessment ratio = Assessed value ÷ Market value = $560,000 ÷ $640,000 = 0.875 = 87.5%. Using the values given ($560,000, $640,000), apply the appropriate formula.. The correct answer is 87.5%.. This is a common calculation on the Washington real estate exam.
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