Real Estate Math
A Kentucky property has a market value of $195,000. The PVA assesses it at 100% of fair cash value. The tax rate is 1.2% of assessed value. What is the annual property tax?
A$1,950
B$2,340✓ Correct
C$1,560
D$2,925
Explanation
Annual property tax = Assessed value x Tax rate. $195,000 x 1.
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