Question

The tax assessment ratio for a house valued at $250,000 is 80%. If the tax rate is $2.00 per $100 what is the annual tax?

Answer 1

Answer:

$4,000

Explanation:

First, you have to determine the 80% of $250,000:

$250,000*0.8= $200,000

Then, you can use the rule of three to determine the annual tax:

$2→$100

x ← $200,000

x=(200,000*2)/100=$4,000

According to this, the answer is that if the tax rate is $2.00 per $100, the annual tax is $4,000.