Question

The butler county tax assessor determines that the market value of greg wilson's home is $123,000. the rate of assessment in butler county is 28% of market value. what is the assessed value of greg's home?

Answer 1

$34,440

Step-by-step explanation

The Assessed value is the dollar value placed on a property to measure applicable taxes to determine the value of a house for tax reasons considering inspections and comparable home sales. The formula is;

Assessed value=market value × rate

Assessed value of Greg’s home=$123000×28% =$34440

.

Answer 2

The assessed value of Greg's home will be calculated as -

Assessed value of Greg's home = Market value of Greg's home X Rate of assessment

Assessed value of Greg's home = $ 123,000 X 28 %

Assessed value of Greg's home = $ 34,440