Question

What is the property tax of 1.6% on property assessed at $85,000?

Answer 1

1.6% is equivlent to 0.016
85000 * 0.016
1360
or you can divide by (1/0.016) as 85000/(1/0.016)
it gives you the same answer for each.

Answer 2

Answer: $1360

Explanation:

The given amount = $85,000

The percent of property tax = 1.6%

To convert it in decimal, divide the given percent by 100, we get

The percent of property tax =0.016

The tax amount =
`0.016*\$85,000`

We get, The tax amount =
`\$1360`

Hence, the property tax of 1.6% on property assessed at $85,000 = $1360.