Question

Ginny feig expanded her beauty salon by increasing her space by 20%. ginny paid property taxes of 3300 at 22 mils. the new rate is now 24 mils. as ginnys accountant, estimate what she may have to pay as property taxes.

Answer 1

To estimate Ginny's new property taxes after expanding her beauty salon by 20%, multiply the original property taxes by 1.2.

Step-by-step explanation:

To estimate the property taxes Ginny may have to pay after expanding her beauty salon by 20%, we need to calculate the new assessed value of the property. Since the space increased by 20%, the new assessed value will also increase by 20%. Let's assume the original assessed value was x dollars. Therefore, the new assessed value will be 1.2x dollars.

Now, we can calculate the new property taxes using the new assessed value and the new tax rate. The original property taxes were $3,300 at a rate of 22 mils. Mils represent the tax rate per $1,000 of assessed value. The new tax rate is 24 mils.

To calculate the new property taxes, we multiply the new assessed value by the new tax rate in mils and divide by 1,000:

New Property Taxes = (1.2x * 24) / 1000

Therefore, Ginny may have to pay (1.2 times original property taxes) in property taxes after expanding her beauty salon.