Real Estate Math
A home in Bloomington, Indiana has a taxable assessed value of $220,000. The tax rate is 1.85% of assessed value. What is the annual property tax?
A$3,850
B$4,070✓ Correct
C$4,400
D$4,950
Explanation
Annual tax = $220,000 × 0.0185 = $4,070.
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