Question

Find the property tax on a home with an assessed value of $95,000.00 if the property tax rate is 12.15 percent of the assessed value.

a. $12,150.00

b. $11,542.50

c. $13,360.00

d. $12,950.00

Answer 1

Option b. $11,542.50

Explanation:

The assessed value of the property = $95,000

The property tax rate = 12.15%

The property tax = 12.15% of $95,000

=
`(12.15)/(100)* 95,000`

= 0.1215 × 95,000

= $11,542.50

The property tax on a home would be $11,542.50.

Answer 2

12.15% = 0.1215 as a decimal.

Multiply the value by the decimal:

$95,000 x 0.1215 = $11,542.50

The answer is B.