Question

A piece of property valued at $56 100 is assessed for property tax purposes at 11 of its value. If the property tax rate is $3.75 on each $100 of assessed value, what is the amount of tax levied on the property?

Answer 1

Properties are assessed for tax pruporses taking a fraction of property value and applying the tax rate.

In this case say at 11 of its value (I suposse that it means 1/11)

So the value assesed is

`56100*(1)/(11)=5100`

Applying the tax

`5100*(3.75)/(100)=191.25`

So the amount levied is $191.25 in the case that the property is assessed at 1/11 of its value. In other case you can follow the same procedure using the respective fraction.