Question

The Johnsons own a home whose market value is $93,000. Their municipality taxes at 80% and the rate is 65 mills or $65 per thousand. What will the Johnsons pay in taxes?

Answer 1

6760

Explanation:

80% x 93000 = 74400

74.4 x 65 = 6760

Answer 2

Answer: He paid $ 4836 in taxes.

Explanation:

Here, the total value of the house = $ 93,000

And, the amount on which municipal taxes imposed = 80% of the value of house

= 80% of 93000

= 0.8 × 93000

= $ 74,400

Now, the tax rate is $65 per thousand,

⇒
`\text{The amount of tax for 1000 dollars }= \$ 65`,

⇒
`\text{The amount of tax for 1 dollar}=(65)/(1000)`

⇒
`\text{The amount of tax for 74400 dollars}=(74400* 65)/(1000)`

`=(4836000)/(1000)`

`=\$ 4836`

Thus, he paid $ 4836 in taxes.