Question

The taxes on a house assessed at $71,000 are $1775 a year. If the assessment is raised to $114,000 and the tax rate did not change, how much would thetaxes be now?

Answer 1

Given:

`\begin{gathered} \text{House assessed at \$71,000} \\ \text{Tax paid in a year = \$1775} \end{gathered}`

The tax rate paid for the year is;

`\begin{gathered} r=(1775)/(71000)*100 \\ r=2.5\text{ \%} \end{gathered}`

If the assessment is now raised to $114,000 and the tax rate did not change, then the tax paid on the house will be;

`\begin{gathered} \text{Tax}=2.5\text{ \% of \$114,000} \\ \text{Tax}=(2.5)/(100)*114000 \\ \text{Tax}=\text{ \$2,850} \end{gathered}`

Therefore, the tax paid on the house with an assessment of $114,000 is $2,850