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13 March, 10:48

Ian's house and land have a market price of $225,000 and an assessed value of 55% of that amount. His state has a property tax rate of 0.088. How much does Ian pay in property tax every year? a. $19,800 b. $18,900 c. $10,890 d. $8,910

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  1. 13 March, 11:13
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    Market price = 225,000

    assessed value = 55% = 123,750

    tax rate = 0.088

    property tax = assessed value X tax rate

    = 123,750 X 0.088

    = $10,890

    the answer is C.
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