Final answer:
The property tax on a $240,000 house is $1794.00.
Step-by-step explanation:
Step 1: Determine the tax rate per $1 of property value by dividing the tax paid on the first house by the value of the first house.
Given that the property tax on a $160,000 house is $1196:
Tax rate = $1196 / $160,000 = $0.007475
Step 2: Multiply the tax rate by the value of the second house to find the property tax on the second house.
Given that the value of the second house is $240,000:
Property tax = $0.007475 * $240,000 = $1794.00