Answer:
The assessment rate in their tax district is 50%.
Step-by-step explanation:
Market value of their home = $361,800
Tax rate = 48.2 mills = 4.82%
Let's assume that the rate of investment be "r".
Assessed vale (AV) = $361,800 × r
Tax = 0.0482 × AV of $361,800 × r
Assessment rate (r) = $8,719.38/(361,800×0.0482)
Assessment rate (r) = 50% (answer).
