Real Estate Math
A Wisconsin property's assessed value is $198,000. The equalization ratio is 90%. What is the estimated market value?
A$178,200
B$198,000
C$220,000✓ Correct
D$225,000
Explanation
Market Value = Assessed Value / Equalization Ratio = $198,000 / 0.90 = $220,000. To solve this, multiply the relevant values: $198,000 at 90%.. The correct answer is $220,000.. This is a common calculation on the Wisconsin real estate exam.
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