Question

The taxes on a house assessed at $64000 are $1600 a year. If the assessment is raised to $80000 and the tax rate did not change, how much would the taxes be now?

Answer 1

$2000 a year.

Explanation:

Let's find the answer by using the following formula:

taxes=(house assessment)*(tax rate) for the initial conditions we have:

(1600/year)=(64000)*(tax rate)

(1600/year)/(64000)=(tax rate)

tax rate=0.025/year

For the current conditions we have:

taxes=(house assessment)*(tax rate)

taxes=(80000)*(0.025/year)

taxes=2000/year

So, the taxes will be $2000 a year.