Question

the property tax rate for minneaplois is $8.93 per square foot, and the denver rate is $2.56 per square foot. If 5,900 square feet is occupied at each location, what is the difference paid in property taxes? ( do not round intermediate calculations.)

Answer 1

Property tax

We are going to find the tax that needs to be paid on each location, and then we find the difference paid.

Minneapolis

Since $8.93 is paid per square foot, and we have that 5,900 square feet is occupied, we just need to multiply in order to find the total tax:

5,900 x $8.93 = $52,587

Then, in Minneapolis the tax is $52,587.

Denver

Solving in the same way as before, we multiply $2.56 per square foot by 5,900. That will be the total tax:

5,900 x $2.56 = $15,104

Then in Denver the tax is $15,104

Difference

Then, the difference is

$52,587 - $15,104 = $37,483

Answer: the difference paid in property taxes is $37,483