Question

The school taxes on a house assessed at $210,000 are $2340. At the same tax rate, what are the taxes (to the nearest dollar) on a house assessed at $275,000

Answer 1

2340/210000=
.011

.011[275000]=$3064

Answer 2

Taxes = $3,064

Explanation:

This can be solved in at least two ways:

(1) Calculate taxes is by applying a rule of three, as well,

$210,000 ----------------- $2,340

$275,000 ----------------- T =?

Where T is the value of taxes. We solve like this,

T = ($275,000 x $2,340) / $210,000

T = $3,064

(2) The interest rate must first be calculated by dividing the taxes by the value of the house, that is,

Rate = $2,340 / $210,000

I = 0.011 = 1.1%

Then, we calculate the taxes of the other house by applying that rate,

Taxes = $275,000 x 1.1%

Taxes = $275,000 x 0.011

Taxes = $3,064

I hope this helps!