Question

Dave’s home appraised for $289,000. His asking price was $290,000 and the property ultimately sold for $275,000. What will the new owners pay in property taxes? One percent of $289,000 One percent of $290,000 One percent of $275,000, plus one-half percent of the difference between $289,000 and $275,000 One percent of $275,000

Answer 1

Since property taxes are paid on the value of the property, the new owners will pay A. One percent of $289,000.

Data and Calculations:

Appraised value of property = $289,000

Asking price = $290,000

Sales price = $275,000

Property tax = 1% of $289,000 (or $2,890)

Thus, the new owners of Dave's home will pay A. One percent of $289,000 in property taxes.

Learn more about property taxes here: brainly.com/question/13887483