Transfer Of TitleTaxesMEDIUM
A parcel in Greenville has an assessed value of $218,000.00. The county tax rate is $0.68 per $100 of value and the municipality's rate is $0.31 per $100. What is the annual ad valorem tax bill?
Correct Answer
B) $2,158.20
Use the stated North Carolina formula or contract assumption: (218000 ÷ 100) × (0.68 + 0.31) = 2180.00 × 0.99 = $2,158.20. That calculation produces the correct amount.
Answer Options
A
$1,482.40B
$2,158.20C
$436.00D
$2,258.20Why This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Transfer Of Title Question
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Background Knowledge for Transfer Of Title
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Real World Application in Transfer Of Title
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Related Topics & Key Terms
Key Terms:
assessed_valuecore_rules_and_definitionsdifficulty_3mathnc_property_tax_conveyance_taxnc_statenorth_carolinaproperty_taxproperty_tax_listing_january_1_and_bill_calculation
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