What is the excise tax on a house that sells for $268,210 with a $25,000 down payment and a $50,000 second mortgage?

To determine the excise tax on a house, it is essential to understand that the tax is typically calculated based on the sale price of the property, not the financing structure involved (like down payments or mortgages).

In this scenario, the sale price of the house is $268,210. Many local jurisdictions impose a certain rate of excise tax for every $1,000 of the property's sale price. It's important to identify the specific excise tax rate that applies to this transaction, which can vary by location.

Assuming a common rate of $2 per $1,000 of the sale price (a typical rate in various areas), the calculation proceeds as follows:

1. Divide the sale price by $1,000:

( \frac{268,210}{1,000} = 268.21 )

2. Multiply by the tax rate:

( 268.21 \times 2 = 536.42 )

Thus, the excise tax calculated here would be approximately $536.42.

Since the answer choices are presented in rounded or simplified form, the most appropriate value that closely matches this calculation would be $537 when rounded to the nearest whole number. This corresponds to the choice