Question

If the assessment rate is 46% and the tax rate is $37.84 per $1,000 of assessed value, the property tax on a house with a market value of $170,000 is

Answer 1

The property tax on a house with a market value of $170,000 is $2,959.09.

What is property tax?

Property tax is a tax levied on the assessed value of property owned by an individual or a corporation.

Data and Calculations:

Assessment rate = 46%

Tax rate = $37.84 per $1,000

Market value of house = $170,000

Assessed value = $78,200 ($170,000 x 46%)

Property tax = $2,959.09 ($78,200 x $37.84/$1,000)

Thus, the property tax on a house with a market value of $170,000 is $2,959.09.

Learn more about property taxes at brainly.com/question/25844719

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