Final answer:
The total tax amount due for a home in Sussex County with an assessed value of $175,000 and a combined tax rate of 2.3 is $4,025. You calculate this by multiplying the assessed value by the tax rate after converting it to decimal form (0.023).
Step-by-step explanation:
The question is related to finding the total tax amount due on a home with an assessed value in Sussex County. To calculate the tax amount, we multiply the assessed value of the home by the tax rate. In this case, the assessed value is $175,000 and the tax rate is 2.3. Note that tax rates are typically given in percentage terms, so we must convert the rate to a decimal by dividing by 100. Therefore, the actual tax rate used in the calculation is 0.023 (2.3% converted to a decimal).
The formula for calculating the total tax due is:
Total Tax Due = Assessed Value × Tax Rate
Plugging in the numbers:
Total Tax Due = $175,000 × 0.023
Total Tax Due = $4,025
Therefore, the tax amount due for the home valued at $175,000 is $4,025.