Question

A certain piece of property is assessed at $150,000. If the tax rate is $2.50 per $100, what is the tax on this property?

Answer 1

The tax on this property is
`3750` dollars

Step-by-step explanation:

Given

Tax on per $100 is $2.50

Tax on every $1 is
`(2.5)/(100) = 0.025` dollars

Tax on property of value $150,000 is

`150,000 * 0.025 = 3750` dollars

The tax on this property is
`3750` dollars