Real Estate Math
A Nevada property is assessed at 35% of its $600,000 market value. The tax rate is $3.50 per $100. What is the annual property tax?
A$6,300
B$7,350✓ Correct
C$10,500
D$21,000
Explanation
Assessed value = $600,000 × 0.35 = $210,000. Annual tax = ($210,000 ÷ 100) × $3.50 = 2,100 × $3.50 = $7,350.
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