Question

Calculate the property tax on a condominium located in a city in British Columbia and assessed at $496,300 if the current tax rate is 1.825%

Answer 1

In this case, we'll have to carry out several steps to find the solution.

Step 01:

data:

property value = $496300

tax rate = 1.825%

Step 02:

percentage:

property tax:

= 1.825 / 100 = 0.01825

property tax = property value * tax rate

$496300 * 0.01825 = 9057.475$

The answer is:

property tax =