Real Estate Math
A Delaware property has an assessed value of $180,000 and a tax rate of $15 per $1,000 of assessed value. What is the annual property tax?
A$2,700✓ Correct
B$1,800
C$3,600
D$1,200
Explanation
Annual Property Tax = (Assessed Value ÷ $1,000) × Tax Rate = ($180,000 ÷ $1,000) × $15 = 180 × $15 = $2,700.
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