Question

the annual property tax on a house valued at $126,500 is 1007.32. what is the property tax per $100? (round 3 decimal places)

Answer 1

EXPLANATION

Let's consider the facts:

Property value= $126,500

Annual tax= $1007.32

Dividing the annual tax by the property value give us the unit value:

Annual tax/Property Value = 1007.32/126,500 = 0.00796300395

Multiplying this number by 100(the house-value factor) give us the desired number:

0.00796x100= $0.79tax/$100house

Rounding to three decimal places:

Answer= 0.796