Real Estate Math
A property's assessed value is 65% of its market value of $510,000. The tax rate is $13.20 per $1,000. What is the annual property tax?
A$4,378✓ Correct
B$3,721
C$4,238
D$5,325
Explanation
Assessed value = $510,000 × 65% = $331,500. Annual tax = ($331,500 ÷ $1,000) × $13.
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