Real Estate Math
A Wisconsin property sold for $465,000. The Wisconsin transfer tax at $3/$1,000 is:
A$1,170
B$1,250
C$1,395✓ Correct
D$1,500
Explanation
Transfer tax = ($465,000 / $1,000) × $3 = 465 × $3 = $1,395. Using the values given ($465,000, $3), apply the appropriate formula.. The correct answer is $1,395.. This is a common calculation on the Wisconsin real estate exam.
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