Real Estate Math
A house sells for $580,000. Property tax (Prop 13 base rate of 1%) plus $800 in special assessments. What is the first year's total property tax bill?
A$5,800
B$6,380
C$6,600✓ Correct
D$5,900
Explanation
Base property tax = $580,000 × 0.01 = $5,800. Total tax = $5,800 + $800 special assessments = $6,600.
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