Question
Assume that you pay $2,849.84 in state property taxes every year. If your property has an assessed value of $41,302, what is your state’s property tax rate?
a.
0.077
b.
0.032
c.
0.014
d.
0.069
a.
0.077
b.
0.032
c.
0.014
d.
0.069
Answers
GPT 3.5
To find the state's property tax rate, we divide the amount paid in state property taxes by the assessed property value:
Property tax rate = Amount paid in state property taxes / Assessed property value
Property tax rate = $2,849.84 / $41,302
Property tax rate ≈ 0.0689
Rounded to three decimal places, the state's property tax rate is approximately 0.069.
Therefore, the correct answer is d. 0.069.
Property tax rate = Amount paid in state property taxes / Assessed property value
Property tax rate = $2,849.84 / $41,302
Property tax rate ≈ 0.0689
Rounded to three decimal places, the state's property tax rate is approximately 0.069.
Therefore, the correct answer is d. 0.069.