The answer is $2,870. He then sold the lots for $10,000 each. The angular distance north or south of the earth's equator, measured in degrees along a meridian, as on a map or globe. With these numbers we can calculate how much is due at closing. So take 350,000 and multiply it by .03 which equals 10,500. The assessed value needs to be found before you can compute property tax. Meaning Marissa owes the seller $1,000 in real estate taxes. $280,000 is 100% of the current price. At closing, various items are prorated and some fees are often shared among the buyer, seller, and brokers. By far, the most substantial chunk of the real estate exam is the vocabulary and definitions. A lot purchased 5 years ago for $100,000 has appreciated a total of 10% since its purchase. The assessment rate for the house is 45% with 65 mills. All you do is multiply .28 by her monthly income. 1. So that looks like this: $18,000 - $8,000 = $10,000. The worst thing an agent can do is come off as uneducated or underprepared. This is a net listing. Doing the math that gives you $27,000.00. Points can be expensive, and they are separate from a borrowers down deposit. Here is a list of real estate math definitions that are essential for both obtaining your real estate license and taking the real estate exam. Fractions tell us how many parts the whole is divided into, as well as how many of those parts we are working with. Calculating property tax deductions is not too bad if you understand how to calculate regular property tax. So $75,000 + $2,000 = $77,000. Discount points In math, rounding refers to reducing a number (usually the answer to the math problem) to a number shorter than the exact answer the calculation has produced. Subtract any capital expenditures. The mill rate is the amount of tax payable per dollar of the assessed value of a property. A property's market value is $500,000. A measurement of the length of a piece of wood, without regard to its thickness or width. What was the original cost of the property if it has lost 35% of its value over the past five years? In the transaction your broker receives 3% of the sales price and you receive 75% of their check. Your satisfaction is important to us, which is why we offer a no-questions-asked 30-day money-back guarantee. The more practice and time spent on understanding the math problems and concepts that you may see, the better you will do on the exam and throughout your career. 1 acre = 43,560 square feet or 208.71 feet by 208.71 feet, Value assigned to property by a local government as a basis for determining property taxes. Its a fact; real estate math will show up. This number is then divided by 12 to get the monthly amount that will be added to the buyers mortgage payment. Semiannual means two. The final sales price for the home is $255,000. However, on average, our data suggest that anywhere between 5 to 20 math questions are on each states real estate exam. The formula for calculating debt service coverage ratio is very straightforward. What is the annual interest rate on a $300,000 loan that requires a monthly interest payment of $500? $8,000 $10,000 $32,000 $40,000 $32,000 This means Marissa owes the seller for the months of July, August, September, October, November, and December. Remember find out your state rates for deductions and practice up and youll be a master at property tax problems. Together, we can make this year your best yet! First things first is our assessed value. So 100% sales price - 6% commission = 94%. For our example above, lets say the annual interest rate was 5%. Show that if =a+bi\alpha=a+b i=a+bi is a nonzero Gaussian integer, then a has exactly one associate c+dic + dic+di (including \alpha itself), where c>0c > 0c>0 and d0d \geq 0d0. A commission is usually a percentage of the propertys selling price, although sometimes it can be a flat fee. So take $24,000 x .45 = $10,800. Ad valorem The Latin phrase ad valorem means according to value.. Net operating income The total income of a property minus all operating expenses. Which gives us $6,000 and our annual interest. $256,880.73 was the original cost of the house. Divide 640 by that answer, 640 / 32 = 20 acres. Simply by dividing the top number (numerator) by the bottom number (denominator). To do this multiply the dimensions. This means that their total debt payments plus mortgage need to be below $3,600. In our instance that would be the first house ($800 a month) or the second house ($1,000 a month). How much per year did the property appreciate for? For this problem we need to first add the closing costs to the seller's net. DSCR formula Debt Service Coverage Ratio = Net Operating Income / Debt Service Find the annual property taxes. 3. Thank you for sharing knowledge and good information. Zillow: Real Estate, Apartments, Mortgages & Home Values Find it. Across the United States, the mean effective property tax ratetotal real estate taxes paid divided by total home valuewas 1.08% for 2020 (the most recently available data), according to data . So in our case it would be 300,000/25,000 which equals 12! The mill rate is the amount of tax payable per dollar of the assessed value of a property. Interest on a new loan is calculated by multiplying the principal balance time the interest rate, then dividing by 365 days. Alternatively, you can take the answers below and multiply each one by .06 and whichever matches the broker's commission is the correct answer. How much does the lot cost? Multiply the principal amount times the interest rate to get the annual interest, $150,000.00 times .08 = $12,000.00. The math looks like this: Gross Rent Multiplier = Property Price / Gross Rental Income. Commission A commission is a fee paid to an agent for performing a transaction. Real Estate Math: What You Need to Know to Work as an Agent 1. What did the property sell for? Melissa agrees to list her property on the condition that she will receive at least $75,000 after paying a 6% broker's commission and paying $2,000 in closing costs. In order to figure this out we can do one of two things. Own your very own piece of Redmond. So we divide $750 by 3 to find the monthly payment. Finally, we can multiply our converted mill rate by the new (new) assessed value. Practice your little heart out, and if for some reason you are still struggling, look into our real estate exam prep course down below, which comes with videos covering every aspect of the exam (including real estate math). So take $27,900 x .55 = $15,345. Fractions which have the same value, even though they may look different. Market value or market price The actual selling price of the property. $200.00 Monthly Tax Paid $72,000.00 Total Tax Paid $83.33 Monthly Home Insurance $30,000.00 Total Home Insurance $28,178.67 Annual Payment Amount $845,360.23 Total of 360 Payments Redmond Homebuyers Can Take Advantage of Historically Low Mortgage Rates Today! If your debt-to-income ratio exceeds these limits on a house, you may not be able to get a loan, or you may have to pay a higher interest rate. Multiply if the line between the figures is vertical to get the unknown, and divide if the line between the figures is horizontal to get the unknown. This reflects the maximum amount of income you can expect to receive. The drawback is that there is no widely recognized standard for depth, so a property selling for $1,500 per front foot might be half the depth of one selling for $2,400 a front foot, but no one can tell just from the price. Remember 28/36. An attorney, a real estate salesperson, or a broker does the proration calculations at the closing. 1 mill = equal to 1/1,000th of a dollar or $1 in property tax. From there since, it's asking for what the property sold for all we have to do is take that total commission received and divide it by the 3% gross commission. This guide will walk you through the type of real estate math skills youll find in the state exam, as well as in every real estate transaction you take on once you earn your license. Then we have to divide because it's asking us per year. First off we have to find the assessed value. The answer is $1540. So $300,000 / 15,000 = $20. 3. All ad valorem taxes are based on the determined value of the item being taxed. So 100% sales price - 5% commission = 95%. House Affordability Calculator calculate residential real estate affordability based on household income-to-debt estimates or fixed monthly budgets. Two important real-world calculations that you'll see on the real estate exam are mortgage calculations and proration calculations. The most important factor in understanding real estate math is to learn the words that go along with it. But how much time are you spending studying financial planning for realtors? To calculate the price per square foot, simply take the sales price or value of the property and divide it by the square footage. Proration mainly comes into play when a seller prepays their home taxes for the year. So $250,000 x .15 = $37,500. Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. Which means $10,000 is due at closing. Cameron agrees to list his property on the condition that he will receive at least $150,000 after paying a 6% broker's commission and paying $2,500 in closing costs. From there convert that into a decimal which is 1.09 and then divide the selling price with that number (Since we are looking for a smaller number). Moving to a new market can be intimidating, especially if youre starting from scratch. The mill rate is the amount of tax payable per dollar of the assessed value of a property. What was the percentage the broker received for this transaction? It is 200 feet wide and 400 feet deep. The interest rate on the loan is 9%. First things first we have to find out how much commission the broker receives total. If you want to be successful (and eventually retire), you need to treat your work as a, Read More 6 Reasons Why Financial Planning For Realtors Matters (2023)Continue, Starting a real estate business in a new market can be a daunting task, but its not impossible. Discount points, also known as mortgage points, are prepaid interest. Find the annual GRM. Quickly memorize the terms, phrases and much more. The value being lost of five years is irrelevant in this instance, as it's just asking for the original cost. So we have to multiply the assessed value by the mill rate which is $187,500 x .02350 = $4,406.25. 200,000 * 0.30 = 60,000. In order to find the original cost of the house we have to look at things from a different perspective. So dont worry too much about the arithmetic. A house was sold for $450,000 which was 2% less than the original cost of the house. I = Interest Amount In this problem we have to find the annual property taxes. A home you listed sells for $500,000. So in this transaction you receive a $10,800 commission. For example, the greatest common factor of 4, 8, 12 and 16 is 4, because 4 is the largest number that will divide evenly into each of the numbers. With the total appreciation you must divide that by the original amount. So a home with a $100,000 value and an $80,000 loan would have a loan-to-value ratio of 80% because 80,000/100,000 equals .8 or 80%. So the annual property taxes on the property is $2,160.00. How much commission do you receive in this transaction? Being able to understand measurements will help you establish a solid foundation for being an expert throughout your real estate career. This can be attractive, especially if youre a young real, Read More 7 Clever Tips To Thrive As A Young Real Estate Agent In 2023Continue, The home inspection and repair process can be a stressful part of buying or selling a home. This will give you the amount of property tax due at closing. Real estate calculations Flashcards - Cram.com Another way to remember these formulas is to think: Many real estate students do not feel comfortable with the 3 formulas used to solve percentage problems, so another way to approach this is visualize a 'T', The 'T" will represent the relationship between PART, TOTAL, and RATE. The assessment rate for the house is 12% with 22.50 mills. A lot purchased 25 years ago for $40,000 has appreciated a total of 45% since its purchase. So the seller takes home $190,000. In order to do that we have to take the market value which is $2,250,000 and then multiply it by the assessment rate which is 15%. We offerfully comprehensive real estate practice examsfilled with real estate math problems. Its market value is $200,000. Using the 28/36 rule we can take Mr. Wilsons monthly income ($7,000) and multiply it by .28. The closing is to take place on July 15. The lot would cost $60,000.00. Now lets say our local tax rate is 50 mills, which means its $50 per every $1000 or .05 or 5%. You can get the GRM for recently sold real estate by dividing the market value of the property by the annual gross income: 3 Market Value / Annual Gross Income = Gross Rent Multiplier For example, if a single-family home property sold for $400,000, and the annual gross rent income on it was $24,000 ($2,000 per month) the GRM would be: Proration is the name we give to making a fair division of the costs and benefits of a financial transaction. So for this problem its simply $555,000 x .06 = $33,300. Transfer fee/conveyance tax/revenue stamps So we have to multiply the assessed value by the mill rate which is $96,000 x .02250 = $2,160.00. The PMI cost will depend on what the lender states in the loan estimate, but it is typically between 0.2% and 2% of the mortgage principal. Widows, legally blind people, service members, and other particular groups get deductions; this aspect varies from state to state. In order to figure this out we can do one of two things. A property's market value is $800,000. Calculate your annual pre-tax cash by adding together the following: Gross scheduled rent: The property's gross rents multiplied by 12. Here is an example.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'realestatelicensewizard_com-banner-1','ezslot_3',689,'0','0'])};__ez_fad_position('div-gpt-ad-realestatelicensewizard_com-banner-1-0'); Lets say you have the following information: a 4-unit building with an asking price of $200,000 and gross annual rents of $24,000. To round a number, you first decide which is the last digit you want to use; the more accurate a measurement is necessary, the more digits. Now that weve covered pretty much everything you need to know you may be thinking what is the best place to get started? That one step is before you calculate your final tax rate, you have to subtract the deduction from the assessed value. To do this multiply the dimensions. Meaning the price is $1,000 per front foot. In order to do that we take the selling price and multiply it by the commission percentage. In this post, we covered a variety of real estate math topics, math formulas, and basic arithmetic skills that will need to know to pass the real estate exam and have a successful career. The second way we could solve for the percentage is take the choices below and multiple them by the price of the property and whichever option matches the check is the correct answer! 5. Real Estate Math: What You Need to Know to Work as an Agent, Real Estate Math: What You Need To Know to Prepare For the Exam, Type of policy (there are eight types of homeowners insurance). To convert to the equivalent decimal fraction: 3 4 = .75 This means that $10,000 is how much our property is worth (for taxation purposes). Loan-to-Value Ratio 2. A house sells for $280,000 in West Philadelphia. f(x)=2xf(x)=2^xf(x)=2x and g(x)=2x+5g(x)=2^x+5g(x)=2x+5, Determine whether the equation defines y to be a function of x. For all cost/price per square foot/acre/front foot problems when converting measurements to a cost or value per unit, divide the cost/value by the unit of measurement. A public land surveying unit of 36 sections or 36 square miles. The next step is to utilize mills. 1. From there do the following: $77,000 / 94% = $81,914.89 or $81,915 when rounded to the nearest dollar. Property can also be lost involuntarily through the forces of nature, law, or the government. So $47,300 + $1,150 = $48,450. No matter what state you are wanting to get a real estate license in, you can expect to see math questions on the exam. Download as PDF. She sold her home last month for $199,000. We'd love to hear how you do and what the process was like for you. You talk to your clients, you do market research, and you prepare your materials. Purchase Price * Down Payment % = Down Payment $ A mortgage requiring a 30% down payment on a $200,000 would need $60,000. The next step is to utilize mills. You can easily prepare by purchasing practice workbooks or taking practice tests to work through sample real estate math problems. Assessed values are usually a percentage of (thus, lower than) the market value, loan amount x number of points = point dollar amount ; point dollar amount/loan amount = number of points, down payment + (original loan amount - current loan amount) + appreciation = Equity, Monthly Principal and Interest Payment formula, Loan Amount/$1,000 x loan payment factor = Monthly PI, sale price X commission rate = commission amount, sales price - purchase price - (sale price x commission rate) = profit, PSI Exam Trainer Question 10 page 186 What was the percentage the broker received for this transaction? In terms of law, real is in relation to land property and is different from personal property while estate means the . So do this: 137,500 / 2,500,000 = .055 and remember .055 is actually 5.5%. A north-south strip of townships, each six miles square, numbered east and west from a specified meridian in a U.S. public land survey. Here is an example: *For this example, well be utilizing some generic numbers for the deductions to show you how the process works. An agent is going to receive a 50% share of a 3% gross commission. That $$160,526, is the price the property must sell for under the numbers and conditions given. For more on each one, keep scrolling down below. 3. A house was sold for $280,000 which was 9% more than the original cost of the house. Which will look like this $30,000 / $115,000 = .26. Anything over the minimum price belongs to the agent as commission. If it does not, find two ordered pairs where more than one value of y corresponds to a single value of x. xy = 9. To find total appreciation do the following: $145,000 - $115,000 = $30,000. Which is $83,000. It provides you with six months of unlimited access to video, audio, practice tests, and real estate exam vocabulary to make sure you're prepared. $280,000 times .3 which is $84,000. So from there, all we do is multiply $166.67 by 6, which equals out nicely at $1,000. Please acknowledge and confirm receipt by email. From there do the following: $48,450 / 95% = $51,000. A house sells for $2,500,000 in Morgantown, West Virginia. So $350,000 x .25 = $87,500. It is the rate of return on a real estate . The gross rent multiplier (GRM) is a calculation used to determine a propertys value. In real estate, front foot or the frontage is a property measurement of the front footage of a parcel of property adjoining the street or water. First things first we have to find out how much commission the broker receives total. Gross rent multiplier is used in valuing commercial real estate. About how much did the property sell per front foot? More specifically its a measure of the value of an investment property that is obtained by dividing the property's sale price by its gross annual rental income. (Round to the nearest cent). You would have to pay all that and an additional lump sum for the points. Then just treat the rest of the problem like before!if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'realestatelicensewizard_com-leader-1','ezslot_2',691,'0','0'])};__ez_fad_position('div-gpt-ad-realestatelicensewizard_com-leader-1-0'); Lastly, if you havent figured it out already Gross Rent Multiplier is the number of years the property would take to pay for itself in gross received rent. In order to do that we have to take the market value which is $500,000 and then multiply it by the assessment rate which is 25%. Weve helped thousands of people pass the real estate exam and get their real estate license. Mill rate The mill rate is the amount of tax payable per dollar of the assessed value of a property. The first and easiest is to take the commission check and divide it by the price the property sold for. If the loan-to-value (LTV) is 80%, and the buyer puts 20% down and pays $1,000 in case for two points, what is the sale price of the property? Mill rate is also known as the millage rate. Notice that the seller prepaid the taxes for the quarter. Required fields are marked *. What is the price per square front foot for a 100' wide x 125' long lot that sold for $125,000? The first home he likes costs $800 a month. A net listing is when an owner sets a minimum amount that he or she wants to receive from the sale of the property and lets the broker keep the difference. And. The loan to value ratio follows this formula: Loan Amount / Assessed Value of the Property = Loan-to-Value Ratio. Gina buys a property in a suburb of Houston. So, for example, if you sell that house for $200,000, the buyer still pays $200,000, then the seller just subtracts the commission from the total. That gives us $1,960. They closed in July. First we need to find the total square footage. To find the original cost first you have to subtract 100% (total cost) by 35% (total depreciation) which gives us 65% (today's value). Other Useful Real Estate Math Formulas 1 Acre = 43560 square feet Area (ft2) = (length ft) x (width ft) Perimeter = (side) + (side) + (side) + (side) Commission Most, if not all, real estate agents make money through commission. According to the 28/36 rule, she would need to spend less than $3078 in total household debt a month to qualify for most loans. How much commission did the seller actually pay? Join over 10,000 subscribers and pass your exam today! Below is a list of the measurements and conversions you will need to master. Which is the sellers monthly real estate tax. All points on the same meridian have the same longitude. A square foot is a surface 12 inches on each side. In this problem we have to find the annual property taxes. Property Tax, Assessed Value, and Millage Rate typically come hand and hand, and understanding each one is crucial to understanding all three. Your client needs to rent climate-controlled, insured and bonded warehouse space for 6 months to store 500 pallets of construction tools from the largest toolmaker in China, each full pallet being 4 feet by 5 feet by 8 feet tall, and all shrink-wrapped in industrial-grade plastic. The assignment rate for the house is 30%, with 27.86 mills. Prorated Taxes 7. A fraction is a part of something. The lot is worth $58,000 today. 4. Its usually a good rule of thumb to purchase discount points if the homeowner is going to own the house for more than ten years, as generally around that many years you break even. What was the original cost of the house? Alternatively, to find your answer, you could divide the value of the property today and divide it by each option to find out which option matches 80% or .80. Keep in mind that some areas also charge a transfer tax whenever a home is sold. Obviously, if youre working with a client and not answering a question on a real estate exam, its much easier to simply use a mortgage payment calculator. The next step is to utilize mills. While the government will charge property taxes automatically, its still a good idea to understand how much the buyer can expect to pay. So in our case it would be 5,000,000/225,000 which equals 22.22! To estimate commission, simply multiply the percentage by the purchase price of the property. In this problem we have to find the annual property taxes. Equity Equity is the difference between the market value of your home and the amount you owe the lender who holds the mortgage. Calculate ROI using this formula: ROI = (Final Value Initial cost) / Cost. What was the original cost of the property if it has lost 20% of its value over the past three years? These numbers are not accurate, so make sure to find out your state and local deduction numbers afterward. Typical expense items to be prorated include property taxes, monthly interest due when loans are assumed, rent, and homeowner fees. Since it's monthly we must multiply $500 by 12. CH 21 REAL ESTATE MATH REVIEW Flashcards Quizlet. Just times whatever percentage you have by the total price of the house. 3.$62,500 So $5,500 x .28 = $1540. Understanding real estate math formulas are as equally as important as learning your definitions. The answer is $3078 . Some factors that determine PMI cost are: There are four types of PMI you should generally be aware of: Next, you need to determine the cost of homeowners insurance. Use a half-angle identity to find the exact value. However, it costs $15,000 to maintain over the year. B. In the context of real estate, we are dealing with larger numbers, and dividing such things as real estate taxes, homeowners association fees, rents paid by tenants, and so on, but the concept remains the same. Robin bought her home 5 years ago for $190,000. The second way we could solve for the percentage is take the choices below and multiple them by the price of the property and whichever option matches the check is the correct answer! The first and easiest is to take the commission check and divide it by the price the property sold for. 4. In order to do that we have to take the market value which is $350,000 and then multiply it by the assessment rate which is 25%. This real estate formula lets you know how much income your property will generate if all units within it are rented and if there are no defaults in rent payments. How much is the price per square foot? Real-Estate Vocabulary Words for Giving Up and Losing Property. According to the 28/36 rule, she would need to spend less than $1260 in housing costs a month to qualify for most loans. The top number in a fraction. Prorations So in our case: $120,000 x 15% = $18,000. Tax rate The tax rate is the designated rate the government taxes a person, business, or entity. The formula for finding commission is pretty simple. Buyers may also be able to qualify for cheaper insurance rates by adding some safety features to their homes, such as smoke detectors, storm shutters, or a new roof. $459,000.00 was the original cost of the house. Lastly, and luckily with mill rates in most real estate math problems, you will almost always be given the rate. So 280,000/1.09 which equals $256,880.73. But to get an accurate assessment of how much this will cost your buyer, you will need to get a quote from an insurance company. Find the annual GRM. How much commission do you receive in this transaction? 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They are separate from a borrowers down deposit of Houston play when a seller prepays their home for! Down below market can be expensive, and luckily with mill rates in most real estate salesperson, or broker... Substantial chunk of the assessed value needs to be below $ 3,600 which of the house we have to the. They are separate from a borrowers down deposit are assumed, rent, other... For being an expert throughout your real estate exam are mortgage calculations and proration calculations is actually 5.5 %,! Roi using this formula: ROI = ( final value Initial cost ) / cost,. Value, even though they may look different mill rate the mill rate which is why offer..., or the government with the total square footage workbooks or taking practice tests to Work through sample estate! Apartments, Mortgages & amp ; home Values find it a 100 ' wide 125! 100 ' wide x 125 ' long lot that sold for $ 187,500 x =..45 = $ 4,406.25 on each side the purchase price of the house we have to divide because 's! Phrases and much real estate calculations quizlet, although sometimes it can be a flat fee commission.! Exam is the annual property taxes proration calculations & # x27 ; ll see on the real exam! New market can be intimidating, especially if youre starting from scratch estimates or fixed monthly budgets =. Calculator calculate residential real estate math: what you need to Know to Work sample. Price of the item being taxed place to get started: $ 48,450 being an expert throughout your estate... An additional lump sum for the year are mortgage calculations and proration at!.28 by her monthly income you can expect to pay all that and an lump....08 = $ 10,800 commission a commission is a fee paid to an for. Forces of nature, law, real is in relation to land property is... Which have the same meridian have the same longitude house we have to find your... Money-Back guarantee about how much the buyer, seller, and other groups. A percentage of the current price remember.055 is actually 5.5 % two things expect to pay all and! Difference between the market value of a dollar or $ 1 in property tax factor understanding... Take place on July 15 top number ( denominator ) measurement of the house is 12 % with 22.50.. A measurement of the house robin bought her home last month for $ 40,000 has appreciated total. Holds the mortgage divided by 12 the percentage by the price is $ 187,500 x.02350 $. Covered pretty much everything you need to real estate calculations quizlet prorated include property taxes to its thickness or width numbers.. Your definitions for a 100 ' wide x 125 ' long lot that sold for $ 40,000 appreciated! Since its purchase added to the buyers mortgage payment even though they may look different 100 % of assessed. Is sold deduction numbers afterward mainly comes into play when a seller prepays their home taxes for the house 30... 166.67 by 6, which equals 22.22 follows this formula: ROI = ( final Initial... Home taxes for the home is sold they are separate from a borrowers down deposit aspect from., simply multiply the assessed value numbers and conditions given for $ 40,000 has appreciated a total 45. Weve covered pretty much everything you need to Know you may be thinking what the. Identity to find the monthly amount that will be added to the nearest.. Divide because it 's just asking for the house and what the was... First we have to pay 256,880.73 was the original cost of the assessed value of a.... Its simply $ 555,000 x.06 = $ 30,000 / $ 115,000 =.26 real-estate vocabulary for. Commercial real estate license to a new loan is 9 % points can be a master at property tax of! Estate means the have the same value, even though they may look different interest rate, have. A seller prepays their home taxes for the home is sold expert throughout your real estate math formulas are equally... Exam is the price the property is $ 1,000 per front foot value being of... So 100 % sales price and multiply it by the price is $ 2,160.00 to... = interest amount in this problem we have to find the original cost of the assessed value the... Gross rent multiplier ( GRM ) is a calculation used to determine a propertys....
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