Question

A county collects property taxes on the assessed value of property, which is 60 percent of its actual value. For example, if a house is valued at $158,000.00 its assessed value is $94,800. This is the amount the homeowner pays tax on. If the tax rate is $2.64 for each $100.00 of assessed value, the annual property tax for this house would be $2502.72. Write a program that asks the user for the actual value of a piece of property and the current tax rate for each $100.00 of assessed value. The program should then calculate and display how much annual property tax the homeowner will be charged for his property.

Answer 1

Answer:

actual_value = float(input("Enter the actual value of a piece of property: "))

tax_rate = float(input("Enter the current tax rate for each $100.00 of assessed value: "))

assessed_value = actual_value * 0.6

tax = (assessed_value * tax_rate) / 100

print("The annual property tax is $" + str(tax))

Explanation:

*The code is in Python.

Ask the user to enter the actual value and the tax rate

Calculate the assessed value, multiply the actual value by 0.6

Calculate the tax, multiply the assessed value by the tax rate and divide result by 100

Print the tax