A new grocery store is expected to have a fair market value of $2,856,000. It will be assessed at 40%, and the tax rate is $5.24

Question

Leona [35]

3 years ago

15

A new grocery store is expected to have a fair market value of $2,856,000. It will be assessed at 40%, and the tax rate is $5.24

per $100 of assessed value. Find the amount of the property tax.

Mathematics

2 answers:

olganol [36] · Answer 1 · 2022-03-19T00:49:07+03:00

olganol [36]3 years ago

4 0

Assessed Value = (Fair Market Value) x (0.40) Where 0.40 is the decimal equivalent of 40%. Tax Rate = $5.24/$100 of assessed value = $0.0524 per dollar of assessed value. Taxes = (Assessed Value) x (Tax Rate) = (Assessed Value) x ($0.0524) Hope this helps!

LekaFEV [45] · Answer 2 · 2022-03-19T02:27:08+03:00

LekaFEV [45]3 years ago

4 0

Answer:

59,861.76

Step-by-step explanation:

40% of 2,856,000 is 1,142,400

divide that by 100 getting 11,424 multiply that by 5.24 getting an answer of 59,861.76