Question

n Tacoma, the tax on a property assessed at $430,000 is $7,310. If tax rates are proportional in this city, how much would the tax be on a property assessed at $860,000?

Answer 1

Answer:

$14620 is collected as tax for a property of $860,000

Explanation:

Let the tax rate on every property in Tacoma be x%. A property worth $430,000 was taxed $7,310. This implies that:

$\frac{x}{100} * 430000= 7310$

multiplying through by 100 we get:

$\frac{x}{100} * 430000*100= 7310*100$

$430000x=731000$

Dividing through by 430000 to get:

$\frac{430000x}{430000}=\frac{731000}{430000}$

x = 1.7%

Therefore the tax rate in Tacoma is 1.7%.

Since all tax rate is proportional, for a property of $430,000 the tax is $7,310, for a property of $860,000 let the tax be $y

Therefore $y=\frac{860000*1.7}{100} =14620$

This means that $14620 is collected as tax for a property of $860,000