A property in Cuyahoga County, Ohio sells for $400,000. The county has adopted the maximum permissive county conveyance fee of $0.30 per $1,000 in addition to the state fee of $1.00 per $1,000. What is the TOTAL conveyance fee for this transaction?
Correct Answer
B) $520
Step 1: State fee = $400,000 / $1,000 × $1.00 = $400. Step 2: County fee = $400,000 / $1,000 × $0.30 = $120. Step 3: Total = $400 + $120 = $520.
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