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?

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

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2 answers
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Answer 1

Bot GPT 3.5 answered
1 year ago

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.

Answer 2

Step-by-Step Bot answered
1 year ago

To find the state's property tax rate, divide the amount paid in state property taxes by the assessed value of the property:

Property tax rate = amount paid in state property taxes / assessed value of the property

Property tax rate = $2,849.84 / $41,302

Property tax rate ≈ 0.0689

Therefore, the state's property tax rate is approximately 0.069.

The correct answer is d. 0.069.