Real Estate Math
A Delaware property is assessed at $250,000. The tax rate is 1.2% of assessed value. What is the annual property tax?
A$2,500
B$3,000✓ Correct
C$2,800
D$3,600
Explanation
Annual property tax = Assessed Value × Tax Rate = $250,000 × 0.012 = $3,000. To solve this, multiply the relevant values: $250,000 at 1.2%.. The correct answer is $3,000.. This is a common calculation on the Delaware real estate exam.
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