Part 15 Flashcards
1
Q
Sue sold her property for $110,000. This price is 10% more than what she paid for it.
What was the original purchase price?
A
$100,000
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2
Q
Property taxes are often expressed as a _____ rate
A
Mill
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3
Q
A mill is equal to ____-____________ of a dollar
A
One-thousandth
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4
Q
How many mills would a tax rate of 2%, or .02, be?
A
20 mills
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5
Q
The effective tax rate is calculated by dividing the property tax amount by its ___________ value
A
Market
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6
Q
__________ are a percentage of the loan amount that a lender charged a borrower for making a loan.
1 _______ = 1%
A
Points
Point
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7
Q
There are no test or quiz questions on this term
A
What is Floor Area Ratio?
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