Property Valuation
A property is appraised at $280,000. The assessment ratio in the parish is 10%. What is the assessed value?
A$14,000
B$28,000✓ Correct
C$56,000
D$140,000
Explanation
Assessed value = Appraised (market) value × Assessment ratio = $280,000 × 0.10 = $28,000. To solve this, multiply the relevant values: $280,000 at 10%.. The correct answer is $28,000.. This is a common calculation on the Louisiana real estate exam.
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