5.) If a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in property taxes? A. $50 B. $500 C. $5,000 D. $50,000

Question

asked Oct 6, 2017 186k views

2 Answers

Daan Olislagers · Answer 1 · 2017-10-11T04:23:43+0000

Answer:

The amount owner pays in the property tax is $ 5000 .

Option (C) is correct .

Explanation:

As given

If a home is valued at $250,000 and the property tax rate is 2 percent .

2% is written in the decimal form

= (2)/(100)

= 0.02

Equation becomes

Property tax = 0.02 × Value of home .

Put all the values in the above

Property tax = 0.02 × $ 250000

= $ 5000

Therefore the amount owner pays in the property tax is $ 5000 .

Option (C) is correct .