You have a home with a market value of $144,700, which has an assessment value of 72% of that amount. your city has a property t
2 answers:
Your taxes went to funding schools will be $2641.The tax is divided into different parts based on the percentage.
<h3>What is tax?</h3>A government-mandated contribution to state revenue is placed on employees' wages and corporate earnings or added to the cost of certain products, services, and transactions.
The given data in the problem is;
The market value of the home = is $144,700
They assessed a value of 72% of that amount.
The city has a property tax rate of 0.039.
The assessment value is found as;
The tax on the property will be;
The amount which goes to funding schools is;
Hence your taxes went to funding schools will be $2641.
To learn more about the tax refer to the link;
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