Question

30-year mortgage with an annual interest rate of 4.9%

made a $55,000 down payment on the house.
monthly payment : $1,035
house price : $250,000
total cost after all payments been made: $427,600

question:
Property taxes vary from State to State and City to City, but 1% of the property's appraised value is a good estimate of how much the annual property taxes will be for the property. Assuming Marisa purchased the house for the same price as its appraised value, how much can she expect to pay each year on property taxes?​

Answer 1

If the house price is $250,000, then 1% of the appraised value is:

0.01 x $250,000 = $2,500

So Marisa can expect to pay $2,500 in annual property taxes.

Explanation: