Question

A home is valued at $175,000. Property in the area is assessed at 35% of its value, and the local tax rate is $3.85 per $100. What is the amount of annual tax paid on the home?

Answer 1

174,000 * 0.35 = 60,900

(60,900 /100) * 3.85 = ?

Answer 2

$2,358.12

Answer 3

I get a little different answer.

Answer 4

I see what you did. The loan amount was $175,000, you used $174,000.