Real Estate Math
An Iowa home is assessed at $220,000. The state rollback is 55.0873% and the levy rate is $37.50 per $1,000 taxable value. What is the annual property tax?
A$4,545✓ Correct
B$8,250
C$4,969
D$12,099
Explanation
Taxable value = $220,000 x 0.550873 = $121,192.
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