Question

School taxes for a local district are 2.5% of a households income. If a household earns $80,000 per year, how much do they pay in school taxes per year ?

Answer 1

To calculate the amount of school taxes a household pays per year, multiply their income by the tax rate:

School taxes = income * tax rate

In this case, the income is $80,000 and the tax rate is 2.5% (or 0.025):

School taxes = $80,000 * 0.025
School taxes = $2,000

Therefore, the household would pay $2,000 in school taxes per year.