Question

Mr. Brown owned a house which he rented for $60 a month. The house was assessed at $9000. In 1975 the rate of taxation was increased from $25 to $28 per $1000 assessed valuation. By what amount should the monthly rent have been raised to absorb the increase in that year's taxes?

A. $7.20
B. $2.25
C. $21
D. None of these answers

Answer 1

(3 * 9) / 12 = $2.25