Using proportions, the property tax on a house with an assessed value of $762,000 is of $8,890.
<h3>What is a proportion?</h3>
A proportion is a fraction of a total amount, and the measures are related using a rule of three.
The tax rate, as a proportion, is:
7280/624000 = 0.011667.
Hence, the property tax on a house with an assessed value of $762,000 is of:
0.011667 x 762,000 = $8,890.
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