Asked by kuol wor
You own a house and land with an assessed value of $55,580. Every year, you pay a total of $2,834.58 in property taxes. What is your local property tax rate?
a.
0.051
b.
0.058
c.
0.019
d.
0.066
a.
0.051
b.
0.058
c.
0.019
d.
0.066
Answers
There are no human answers yet.
Answered by
GPT 3.5
To find the local property tax rate, divide the total property taxes paid ($2,834.58) by the assessed value of the property ($55,580):
Property tax rate = Total property taxes paid / Assessed value
= $2,834.58 / $55,580
Using a calculator, the property tax rate is approximately 0.051 (rounded to three decimal places).
Therefore, the correct answer is option a. 0.051.
Property tax rate = Total property taxes paid / Assessed value
= $2,834.58 / $55,580
Using a calculator, the property tax rate is approximately 0.051 (rounded to three decimal places).
Therefore, the correct answer is option a. 0.051.
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