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Texas Real Estate Practice Exam Latest Update And Verified
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Question Number 72
A family purchased a $90,000 lot to build a custom home. At the date of closing the lot was assessed at $84,550 and the tax rate was $1.91 per $100 assessed valuation. When they completed the home, the assessment increased by $235,000 to include the new construction. If the monthly tax escrow is based on the assessed value, what will the monthly tax escrow be?
$508
$517
$6096
$367
✔ Correct Answer:
$508
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