Question

n Atlanta, the tax on a property assessed at $780,000 is $11,700. If the tax rates in Portland are proportional to Atlanta, how much would the tax be on a property assessed at $290,000? The tax on a property in Portland with an assessed value of $290,000 will be

Answer 1

The tax on a property assessed at $290,000 in Portland would be approximately $4,355.38! Why?

(Long Explanation ahead, lol)

Explanation:

Let's set up a proportion using the assessed values and the corresponding taxes:

$780,000 (Atlanta assessed value) --> $11,700 (Atlanta tax)

$290,000 (Portland assessed value) --> x (Portland tax, what we want to find)

To solve the proportion, we can set up the equation:

(780,000 / 11,700) = (290,000 / x)

Now we can cross-multiply:

780,000x = 11,700 * 290,000

Divide both sides of the equation by 780,000:

x = (11,700 * 290,000) / 780,000

Calculating this expression gives us:

x ≈ $4,355.38