If you would like to know Mike's tax, you can calculate this using the following steps:
a market value ... 310000 the property ... 40% of the market value = 40% * 310000 = 40/100 * 310000 = 124000
the tax rate ... 145.10 per 1000 of assessed valuation 145.10 ... 1000 of assessed valuation x ... 124000 of assessed valuation ____________________________ 145.10 * 124000 = 1000 * x /1000 x = 145.10 * 124000 / 1000 x = 17992.4 (Mike's tax)
The correct result would be: Mike's tax is 17992.4.
