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4 votes
Ted Pappas pays

$4,388.65 in real estate taxes yearly.His property has a market value of
$119,340.00 with a rate of assessmentof 42%. What is his tax rate to the
nearest tenth of a mill?

PLEASE HELP ME THIS IS DUE TODAY!!!!!!!!!!!

User Xtine
by
6.2k points

1 Answer

1 vote

Answer:

$ 501.23

Explanation:

Sales Tax Calculations

Net Price is the tag price or list price before any sales taxes are applied.

Total Price is the final amount paid including sales tax.

Sales Tax Amount = Net Price x (Sales Tax Percentage / 100)

Total Price = Net Price + Sales Tax Amount

Solve

Net Price x (Sales Tax Percentage / 100)

119,340.00 x 42%/100

Total Price = Net Price + Sales Tax Amount

501.23

User Nicolas Roehm
by
5.5k points