How much money did the seller owe in taxes for the Apton property?

Prepare for the VanEd National Real Estate Exam. Study with interactive quizzes and detailed explanations. Get ready to ace your test with confidence!

To arrive at the correct answer regarding how much the seller owed in taxes for the Apton property, it is necessary to consider typical property tax calculations and the context of the question. The total amount typically reflects various factors such as the assessed value of the property, the tax rate applied, and any exemptions that might be relevant.

In this scenario, the seller owed $3,040 in taxes, which indicates that this figure was likely derived from the typical assessed value of the property multiplied by the applicable local tax rate. This amount aligns with what one might expect for property taxes on a residential or commercial property, depending on its value and location.

Understanding property tax calculations is essential for anyone involved in real estate transactions, as they directly affect the financial dynamics of buying or selling a property. Here, the other amounts provided would be too low to reflect common tax obligations for many properties, which confirms that $3,040 accurately represents the seller's tax liability in this case.

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