Question

Say that you own property with a market price of $74,000. The state tax assessors have given it an assessed value of 48% of that amount. If your state’s property tax rate is 0.031, how much do you owe in property tax, to the nearest dollar? a. $1,101 b. $2,294 c. $35,520 d. $1,193

Answer 1

Answer:

A

Step-by-step explanation:

74,000 x .48 = 35520. 35520 is the amount of property you have to pay for.

35520 x 0.031 = 1,101.12.  1.101.12 is the amount you owe in property tax.