Question

What will the annual Property rates be for one year for a property that is worth R250,000?

a) R12,500
b) R25,000
c) R37,500
d) R50,000

Answer 1

The annual property rates for a property worth R250,000 can be calculated using a fixed percentage, known as the property tax rate. To calculate the rates, multiply the property value by the property tax rate, which is usually given as a percentage. For a property worth R250,000 with a 5% property tax rate, the annual property rates would be R12,500.

Step-by-step explanation:

The annual property rates for a property worth R250,000 can be calculated using a fixed percentage, known as the property tax rate. The property tax rate is typically given as a percentage of the property value. To calculate the annual property rates, you would multiply the property value by the property tax rate.

Let's assume the property tax rate is 5%:

1. Convert the property tax rate to a decimal by dividing it by 100: 5% / 100 = 0.05
2. Multiply the property value by the property tax rate: R250,000 * 0.05 = R12,500

Therefore, the annual property rates for a property worth R250,000 with a 5% property tax rate would be R12,500.