Answer:
The correct answer to the following question is 40% .
Step-by-step explanation:
Given information -
Market value of the property = $90,000
The property is being assessed at 35%
The annual taxes are 35%
here the first step would be to calculate the assessed value, which would be calculated by -
market value of property x assessed percentage
= $90,000 x 35%
= $31,500
Now for the tax rate divide the tax rates by assessed value =
$1260 / $31,500 x 100
= 40%