Question

In 2018, Indiana has a 0.87% real estate tax rate and a 1.25% vehicle tax rate. Melanie owns a condominium with a value of $215,000.00 and a car worth $18,500.00. How much property tax, for both real estate and vehicle, will Melanie pay?

$1,870.50
$2,101.75
$2,687.50
$2,848.75

Answer 1

$2101.75

Explanation:

You would start by dividing 215000 by 100 to get 1% then multiply that by 0.87 which is

215000÷100=2150

2150×0.87=1870.5

Then do the same same for the other but switch the numbers so

18500÷100=185

185×1.25=231.25

Then add to get

1870.5+231.25=$2101.75