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Mike pays $8,000 in property taxes, but receives a 28% tax deduction for it. What is Mike’s net expense for property taxes
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31 votes
31 votes
Mike pays $8,000 in property taxes, but receives a 28% tax deduction for it. What is Mike’s net expense for property taxes

User Joshua Son
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2 Answers

30 votes
30 votes

Answer:

the answer is he pays 2,240 in property taxes now

User Rudresh Bhatt
by
3.1k points
14 votes
14 votes
Answer: 5,760

Steps:
8,000 * .28 = 2,240 —> tax deduction
8,000 - 2240 = 5,760


Tip: Move the decimal place two spots to the left to make a percent a decimal.
User Jerodsanto
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2.9k points
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