Question

If your state has a property tax rate of 0.056, and you pay $3,164.45 in property taxes every year, what is the assessed value of your property? a. $177,209 b. $21,265 c. $56,508 d. $48,684 please select the best answer from the choices provided a b c d

Answer 1

C $56,508

Explanation:

You take the property taxes of $3164.45 & divide by the tax rate of .056 & you get $56,508

To double check, $56,508 property value X the tax rate of .056 (5.6%) = $3,164.45