Question

The property tax on a house with an assessed value of $599,500 is $7,630. Determine the property tax on a house with an assessed value of $731,500, assuming the same tax rate.

Answer 1

To determine the property tax on a house with an assessed value of $731,500, you can use a proportion based on the ratio of assessed values. The property tax is approximately $9,328.54.

Step-by-step explanation:

To determine the property tax on a house with an assessed value of $731,500, you can use a proportion based on the ratio of assessed values. The ratio of assessed values is $731,500/$599,500. The property tax for the house with an assessed value of $731,500 can be calculated as $7,630 multiplied by the ratio:

Property tax = $7,630 x ($731,500/$599,500)

Using this equation, the property tax on the house with an assessed value of $731,500 is approximately $9,328.54.