Real Estate Math
A Missouri property with an assessed value of $62,000 and a tax rate of $10.25 per $100 has annual taxes of:
A$6,355✓ Correct
B$6,200
C$6,000
D$5,952
Explanation
Annual tax = ($62,000 ÷ $100) × $10.25 = 620 × $10.25 = $6,355. Using the values given ($62,000, $10.25), apply the appropriate formula.. The correct answer is $6,355.. This is a common calculation on the Missouri real estate exam.
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