Question

10. A $152,000 home has an assessment rate of 52% and a tax rateof $48 per $1,000. Use the effective tax method to calculate theproperty tax .Hint: When you determine the effective tax rate, round the rateto three places.

Answer 1

Given

$152,000

52% assessment rate

$48 per $1,000

Procedure

First, let's calculate the assessment rate.

`152000\cdot0.52=79040.0`

Now let's calculate the taxes

`79040.0\cdot(48)/(1000)=3793.92`

Property taxes are equal to $3,793.92.