Question

A home with a market value of $200,000 is assessed at 35 percent of the market value. The assessment is

Answer 1

The assessment value of a home with a market value of $200,000 assessed at 35 percent of the market value is $70,000. This is found by multiplying the market value by the assessment rate.

Step-by-step explanation:

The student's question pertains to calculating the assessment value of a home based on a given market value and an assessment rate.

The assessment rate is provided as a percentage of the market value.

Step-by-Step Calculation

1. First, we identify the market value of the home, which is $200,000.
2. Next, we determine the assessment rate, which is 35 percent, or 0.35 when converted to its decimal form.
3. Finally, to find the assessment value, we multiply the market value by the assessment rate: $200,000 x 0.35 which equals $70,000.

Therefore, the assessment value of the home is $70,000.