Real Estate Math
A Hawaii property is assessed at $480,000. The county tax rate is $3.50 per $1,000 of assessed value. What is the annual property tax?
A$1,200
B$1,500
C$1,680✓ Correct
D$2,400
Explanation
Tax = ($480,000 ÷ $1,000) × $3.50 = 480 × $3.50 = $1,680. Using the values given ($480,000, $3.50), apply the appropriate formula.. The correct answer is $1,680.. This is a common calculation on the Hawaii real estate exam.
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