Real Estate Math
A West Virginia home has property taxes of $1,800/year. The tax rate is 1.2% of assessed value. What is the assessed value?
A$130,000
B$150,000✓ Correct
C$160,000
D$120,000
Explanation
Assessed Value = Annual Taxes / Tax Rate = $1,800 / 0.012 = $150,000. To solve this, multiply the relevant values: $1,800 at 1.2%.. The correct answer is $150,000.. This is a common calculation on the West Virginia real estate exam.
Related West Virginia Real Estate Math Questions
- A West Virginia investment property generates annual NOI of $45,000. An investor wants a 9% capitalization rate. What is the maximum price the investor should pay?
- A West Virginia property was listed for $289,000 and sold for $278,000. If the agent's commission is 5.5% of the sale price, what is the commission?
- A rectangular parcel in West Virginia measures 300 feet × 400 feet. How many acres is this? (1 acre = 43,560 sq ft)
- A West Virginia buyer takes out a $200,000 mortgage at 7% annual interest with a monthly payment of $1,331. How much of the first month's payment goes to principal?
- A West Virginia home sold for $210,000. The buyer obtained a 90% loan. The buyer paid 1.5 discount points on the loan amount. What is the total dollar amount of discount points paid?
- A Huntington, WV building has 8,000 sq ft of rentable space. Currently 7,200 sq ft is leased. What is the vacancy rate?
- A West Virginia retail space leases for $22 per square foot per year. The tenant occupies 3,200 square feet. What is the monthly rent?
- A West Virginia investor purchases a 4-unit apartment building for $320,000 with an 80% loan. The annual NOI is $28,000. What is the annual debt coverage ratio (DCR) if annual debt service is $19,200?
Practice More West Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free West Virginia Quiz →