Emma's property is assessed at $650,000. Her property qualified for a $50,000 homestead tax exemption and was appraised at $800,000. What is the taxable value of Emma's property? $650,000? $800,000? $600,000? $750,000?

Question

Mathematics

Rigoberto

22 July, 00:11

Emma's property is assessed at $650,000. Her property qualified for a $50,000 homestead tax exemption and was appraised at $800,000. What is the taxable value of Emma's property? $650,000? $800,000? $600,000? $750,000?

+5

Answers (1)

Know the Answer?

Lauren Spencer · Answer 1

The assessed value is the basis for tax calculations. The taxable value is the assessed value less any applicable exemptions.

taxable value = $650,000 - 50,000 = $600,000.