Question

A certain piece of property is assessed at $150,000. If the tax rate is $2.50 per $100, what is the tax on this property?

Answer 1

Answer:

The tax on this property is $3750$ dollars

Explanation:

Given

Tax on per $100 is $2.50

Tax on every $1 is $\frac{2.5}{100} = 0.025$ dollars

Tax on property of value $150,000 is

$150,000 * 0.025 = 3750$ dollars

The tax on this property is $3750$ dollars