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The taxes on a house assed at 110,000 are 2970

The taxes on a house assed at 110,000 are 2970-example-1

2 Answers

3 votes

Answer:

$3267

Explanation:

$121000 × $2970/$110000

= 11 × 297

= $3267

The taxes on the house with an assessment of $121000 are $3267

User Wpigott
by
8.0k points
7 votes

Answer:

$3267

Explanation:

You want to know the taxes on a house assessed at $121000 if the taxes on a house assessed at $110000 are $2970.

Proportion

The taxes are proportional to the house value, so if the house value goes up by a factor of 121000/110000, so do the taxes. The taxes will be ...

(121000/110000)·$2970 = $3267

The taxes on the house with an assessment of $121,000 are $3267.

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Additional comment

You could go to the trouble to find the tax rate, which is ...

rate = $2970/$110000 = 0.027

This can be described as 27 mils, 27‰, or $27 per thousand.

Multiplying this rate by the higher assessed value shows the taxes are ...

0.027 × $121000 = $3267

We don't really need to know the tax rate. All we need to know is that the house with the 10% higher value will have 10% higher taxes.

The taxes on a house assed at 110,000 are 2970-example-1
User Kohjah Breese
by
7.8k points