Real Estate Math
A Missouri home is assessed at 19% of its $350,000 market value. The tax rate is $8.00 per $100 of assessed value. What is the annual tax?
A$5,320✓ Correct
B$4,200
C$6,650
D$3,800
Explanation
Assessed value = $350,000 × 19% = $66,500. Annual tax = ($66,500 ÷ $100) × $8.00 = 665 × $8.00 = $5,320.
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