Question

the market value of Christine and genes home is 275,000 the assessed value is 230,000 the annual property tax rate is 17.50 per $1,000 Us in value what is the property tax on their home

Answer 1

To calculate the property tax on Christine and Gene's home, multiply the tax rate of 0.0175 (converted from $17.50 per $1,000) by the assessed value of $230,000. The annual property tax on their home would be $4,025.

Step-by-step explanation:

The student is asking how to calculate the property tax on Christine and Gene's home. To calculate this, you need to use the assessed value of the property and the property tax rate. Here is the step-by-step calculation:

• Property tax rate = $17.50 per $1,000 of assessed value.
• Assessed value of the home = $230,000.
• To find the property tax, convert the tax rate to a decimal by dividing by 1,000, resulting in 0.0175 ($17.50 / $1,000).
• Multiply the resulting decimal by the assessed value: Property tax = 0.0175 * $230,000.

The calculation is:

Property tax = 0.0175 * $230,000 = $4,025

Therefore, the annual property tax on their home is $4,025.

Answer 2

Answer: The property tax is $4,025

To find the property tax we have to look at the assessed value of the property. In our problem, that is 230,000. Now, you just have to multiply that by the rate of 17.50 per 1000, or you have use the percent 1.75%.

This will give you the total tax of 4025.