Question

6. The market value of a home is $98,000 and the rate of assessment is 48%.The tax rate is $52 per $1000. What is the yearly real estate tax?a $1,223.20b. $2,446.08C. $1,032.10

Answer 1

We know that

• The rate of assessment is 48%.

,

• The tax rate is $52 per $1000.

To find the real estate tax, we have to multiply each rate with the value of the home.

$98,000\cdot0.48\cdot\frac{52}{1000}=\frac{2,446,080}{1000}=2,446.08$

Therefore,