Question

The tax assessment ratio for a house valued at $250,000 is 80%. If the tax rate is $2.00 per $100 what is the annual tax?

Answer 1

Answer:4000

Step-by-step explanation:

Answer 2

Answer: $5,000

Step-by-step explanation:

given data:

tax ratio = 80%

valuation of the house = $250,000

tax rate = $2/$100.

solution:

total annual tax

= $250,000 /$100

= $2500

total tax rate = $2/$100

= $2 * $2,500

= $5,000.

therefore, the total tax due to be payed annually is $5000. This would have not been the case if it has been 80% generally.