Real Estate Math
A property is assessed at $340,000. The tax rate is $12 per $1,000 of assessed value. What are the annual property taxes?
A$2,833
B$3,400
C$4,080✓ Correct
D$28,333
Explanation
Annual taxes = $340,000 ÷ $1,000 × $12 = 340 × $12 = $4,080.
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