Final answer:
Sammy pays $2,241 in property taxes for his home valued at $180,000 with a property tax rate of 1.245%, after converting the percentage to a decimal and multiplying it by the home's value.
Step-by-step explanation:
To calculate the property taxes that Sammy pays on his home, we need to use the given property tax rate and the value of his home. Since the value of Sammy's home is $180,000 and the property tax rate is 1.245%, we can set up a calculation to find out the annual property tax amount:
Property Tax = Home Value × Tax Rate
First, convert the percentage into a decimal by dividing by 100:
1.245% ÷ 100 = 0.01245
Then multiply the home value by the decimal tax rate:
Property Tax = $180,000 × 0.01245
Property Tax = $2,241
Sammy pays $2,241 in property taxes, rounded to the nearest dollar.