Final answer:
To calculate the property tax for the first quarter, the market value is multiplied by the assessment rate, and then the senior citizen discount is applied. However, the property tax rate is not provided, so we can only calculate the taxable value after discount and cannot determine the actual quarterly tax payment.
Step-by-step explanation:
The question involves calculating the property tax to be paid by a senior citizen based on the market value of the property, the assessed value, and the senior citizen discount. To find the amount of property tax she must pay in the first quarter of the year, several steps need to be followed: Calculate the assessed value of the property by multiplying the market value by the assessment rate. Apply the senior citizen discount to the assessed value to find the taxable value. Assuming the property tax rate and divide the annual tax by four to get the quarterly tax amount.
However, since the property tax rate is not provided in the question, we cannot complete the calculation. The information provided allows us to only calculate the assessed value after discount, which is the first step in the process. Let's do the calculations that can be done: Assessed value = Market value × Assessment rate = $750,000 × 0.80 = $600,000. Taxable value after discount = Assessed value × (1 - Senior discount rate) = $600,000 × (1 - 0.20) = $480,000. Without the actual tax rate, we cannot proceed to find the quarterly property tax amount that the senior citizen must pay.