Question

Bud Graham owns property in Salinas assessed at $250,000 and pays a property tax rate of $1.96 per $100 of assessed value. He also owns property in Modesto assessedat the same $250,000 and pays property tax at a rate of $21.50 per $1,000 of assessed value. What is Bud's total property tax bill for properties in both towns?$10,275$9,965$11,045$10,996None of these choices are correct.

Answer 1

Ok so first we are gonna calculate the tax bill for each town independently and then we are gonna add their values. The tax rate in Salinas is $1.96 per $100 of assessed value and we know Mr. Graham's property is assessed at $250000 so we can use the rule of three:

$100-----------$1.96

$250000----------x

Where x represents his property tax bill for Salinas. According to the rule of three:

$x=\frac{250000\cdot1.96}{100}=4900$

So he has to pay $4900 in taxes for that property. Now we make the same process for his property on Modesto:

$1000-----------$21.5

$250000----------x

$x=\frac{250000\cdot21.5}{1000}=5375$

So he has to pay $5375 for his property in Modesto. Adding the two bills we know the total property bill: $4900 + $5375 = $10275