Question

Ashley owns a house with a market value of $135,000 and an assessed value of $110,000. If Cobb County's tax rate is $21.40 per $1,000 of assessed value, what is her annual tax bill?

Answer 1

Annual tax bill of Ashley = $2,354

Explanation:

Given:

Market value of house = $135,000

Assessed value of house = $110,000

County's tax rate = $21.40 per $1,000

Find:

Annual tax bill of Ashley

Computation:

Annual tax bill of Ashley = [Assessed value of house / 1,000 ]21.40

Annual tax bill of Ashley = [110,000 / 1,000 ]21.40

Annual tax bill of Ashley = [110]21.40

Annual tax bill of Ashley = $2,354