Vermont Real Estate Math
Practice Questions & Answers (2026)
Real estate math questions appear on every Vermont real estate exam and test a focused set of calculations: commission splits, prorations (property tax, rent, interest), loan-to-value ratios, appreciation and depreciation, and area calculations. The Vermont Real Estate Commission does not provide a calculator — but the math is designed to be workable without one if you know the right formulas. Vermont candidates consistently lose points on proration questions because they apply the wrong day-count convention (360-day vs. 365-day year) or miscalculate the seller's vs. buyer's share. Work through every problem in this section until you can solve each type without hesitation.
Vermont Exam Study Resources
Everything you need to pass — in one place.
Vermont Real Estate Math — Practice Questions & Answers
140 questions on Real Estate Math from the Vermont real estate question bank. First 10 are free — sign up to unlock all 140.
Q1. A Vermont home sells for $375,000. The Vermont Property Transfer Tax for a non-primary-residence buyer is 1.45% of the purchase price. What is the tax?
Explanation
Property Transfer Tax = $375,000 × 0.0145 = $5,437.50, which rounds to $5,438.
Q2. A Vermont investment property has a gross monthly rent of $2,800. The gross rent multiplier (GRM) for comparable properties is 145. What is the estimated market value?
Explanation
Value = Monthly Rent × GRM = $2,800 × 145 = $406,000.
Q3. A seller lists a Vermont property for $420,000 and agrees to pay a 5% commission. The property sells for $408,000. How much is the total commission?
Explanation
Commission is calculated on the actual sale price: $408,000 × 0.05 = $20,400.
Q4. A buyer in Vermont takes out a $310,000 mortgage at 6.5% annual interest. What is the interest portion of the very first monthly payment?
Explanation
Monthly interest rate = 6.5% ÷ 12 = 0.5417%. First month's interest = $310,000 × 0.005417 = $1,679.17 ≈ $1,679.
Q5. A Vermont property is assessed at $280,000 with a tax rate of 1.8% of assessed value. What is the annual property tax?
Explanation
Annual property tax = Assessed value × Tax rate = $280,000 × 0.018 = $5,040.
Q6. A Vermont seller nets $315,000 after paying a 5% commission on the sale. What was the sale price?
Explanation
If the seller nets 95% of the sale price (after 5% commission), then: Sale price × 0.95 = $315,000. Sale price = $315,000 ÷ 0.95 = $331,578.95 ≈ $331,579.
Q7. A Vermont lot measures 200 feet by 300 feet. What is the lot size in acres? (1 acre = 43,560 sq ft)
Explanation
Area = 200 × 300 = 60,000 sq ft. Acres = 60,000 ÷ 43,560 = 1.377 ≈ 1.38 acres.
Q8. A buyer takes out a $250,000 mortgage with monthly payments of $1,600. The first month's interest is $1,250. How much principal is paid in the first month?
Explanation
Monthly payment = $1,600. Interest portion = $1,250. Principal portion = $1,600 – $1,250 = $350.
Q9. A Vermont commercial property has a list price of $1,200,000. An investor's analysis requires a 8% cap rate. If the property's NOI is $88,000, what should the investor offer?
Explanation
Investor's value = NOI ÷ Cap rate = $88,000 ÷ 0.08 = $1,100,000. The investor should offer no more than $1,100,000 to achieve the required 8% cap rate.
Q10. Vermont's Land Gains Tax rate for land sold within 1 year of purchase is 80% of the gain. A buyer purchased land for $100,000 and sold it 8 months later for $150,000. What is the Land Gains Tax?
Explanation
Gain = $150,000 – $100,000 = $50,000. Land Gains Tax = $50,000 × 80% = $40,000.
Q11. A property's market value is $450,000 and the assessment ratio is 85%. The mill rate is 18 mills. What is the annual property tax?
130 more Real Estate Math questions
Create a free account to unlock all 140 Vermont Real Estate Math questions with full explanations.
Free account · No credit card · Instant access to 25 questions
Ready to take the full exam? Start free.
25 free questions · No signup · Instant access to all Vermont topics