Real Estate Math
A property's assessed value is 80% of market value. The tax rate is 1.5%. If the market value is $300,000, what is the annual tax?
A$3,600✓ Correct
B$4,500
C$2,880
D$5,400
Explanation
Assessed value = $300,000 × 80% = $240,000. Tax = $240,000 × 1.
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