Real Estate Math
What is the assessed value of a Wyoming commercial property with a market value of $2,000,000 assessed at 11.5% of market value?
A$11,500
B$115,000
C$200,000
D$230,000✓ Correct
Explanation
Assessed value = Market value x Assessment ratio = $2,000,000 x 11.5% = $2,000,000 x 0.
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