Question

A dairy farm has a real estate tax rate of $57.26 per thousand dollars of assessed

value. If the farm is assessed at $665,500.00 what is the real estate tax?

Answer 1

To calculate the real estate tax, we can use the following formula:

Real estate tax = (Assessed value / 1000) * Tax rate

Plugging in the values we have:

- Assessed value = $665,500.00
- Tax rate = $57.26 per thousand dollars

Real estate tax = ($665,500.00 / 1000) * $57.26 = $38,107.03

Therefore, the real estate tax for the dairy farm is $38,107.03.