Question

Jevon Noda's home has a market value of $72,000, the rate of assessment is 30%, and the tax rate is 85.

Answer 1

The required a) assessed value = $21600,
                    b) tax rate = 0.0855,
                    c) real estate tax = $1836.

What is cost price?

Cost price is that price for buyer which he pays to seller for an object or product.

a) assessed value = 72000 x 30/100
 =  $21600
b) tax rate = 85.5/1000
    =  0.0855
c) real estate tax = 0.855 x 21600
   =  $ 1836

Thus, the required values of a) assessed value, b) tax rate as a decimal, and c) real estate tax is  $21600, 0.085 and $1836 respectively.

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