Real Estate Math
A Wisconsin property has a market value of $420,000. The assessment ratio is 85%. The mill rate is 24 mills. What is the annual property tax?
A$7,056
B$8,568✓ Correct
C$9,072
D$10,080
Explanation
Assessed value = $420,000 × 0.85 = $357,000.
Related Wisconsin Real Estate Math Questions
- A Wisconsin buyer's offer is $355,000 with $10,000 earnest money. The seller accepts. If the buyer defaults, the seller retains the $10,000 per the liquidated damages clause. What percentage of the sale price does the forfeited earnest money represent?
- A Wisconsin homeowner's property taxes are $7,200/year. Using a 360-day year, the daily tax rate is:
- A Wisconsin property was purchased for $240,000 and sold 5 years later for $288,000. What is the total percentage appreciation?
- A Wisconsin 40-acre parcel sells for $3,200/acre. What is the total sale price?
- A Wisconsin investor sells a property for $425,000 that was purchased for $310,000. After paying 5.5% commission and $8,000 closing costs, what is the profit?
- A Wisconsin property manager charges 8% of collected rents. The property collects $9,500/month. What is the monthly management fee?
- A Wisconsin rectangular lot is 1 acre. Given that 1 acre = 43,560 sq ft, if the lot is 165 feet wide, how deep is it?
- A Wisconsin duplex rents for $850/unit/month. Using a GRM of 130, what is the estimated value?
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →