Real Estate Math
A Nevada property's assessed value is $180,000. The tax rate is $2.75 per $100. What are the annual property taxes?
A$4,950✓ Correct
B$4,500
C$5,250
D$3,600
Explanation
Annual taxes = ($180,000 / $100) x $2.75 = 1,800 x $2.75 = $4,950. Using the values given ($180,000, $2.75), apply the appropriate formula.. The correct answer is $4,950.. This is a common calculation on the Nevada real estate exam.
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