Question

What property tax is due on a home assessed at 210,000 if the tax rate is 4.23 per $100

Answer 1

Given,

You have to pay $4.23 per $100 of the assessed value of your asset.

That is:

4.23/100 = 0.0423

That is 4.23%.

To find the property tax, you multiply the tax rate (4.23% = 0.0423) with the assessed value of the property (210,000). Hence,

`0.0423\cdot210,000=\$8883`Answer

$8,883