Real Estate Math
A Hawaii property's assessed value is $480,000 and the property tax rate is $3.50 per $1,000 of assessed value. What is the annual property tax?
AA. $1,680✓ Correct
BB. $16,800
CC. $1,680
DD. $168,000
Explanation
Property tax = Assessed Value / 1,000 × Tax Rate = $480,000 / 1,000 × $3.50 = 480 × $3.
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