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A property is assessed at $39,000. The local municipality has an equalization rate of 5%. What is the market value of the property...
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6 votes
A property is assessed at $39,000. The local municipality has an equalization rate of 5%. What is the market value of the property...

User Ajmal Jamil
by
3.5k points

1 Answer

6 votes

Answer:

$780,000

Step-by-step explanation:

Calculation for the market value of the property

Using this formula

Market Value=Assessed property/Equalization rate

Let plug in the formula

Market Value=$39,000/0.05

Market Value=$780,000

Therefore the market value of the property will be $780,000

User SushiHangover
by
3.7k points
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