Real Estate Math
A Kansas City area home is assessed at 19% of a $280,000 market value. The tax rate is $8.85 per $100. What is the annual tax bill?
A$4,706✓ Correct
B$5,274
C$4,200
D$5,963
Explanation
Assessed value = $280,000 × 19% = $53,200. Tax = ($53,200 ÷ $100) × $8.85 = 532 × $8.85 = $4,708.20 ≈ $4,706.
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