A Nevada property's taxable value is $480,000. Nevada assesses at 35% of taxable value. The tax rate is $3.25 per $100 of assessed value. What is the annual property tax?

Explanation

Assessed value = $480,000 × 0.35 = $168,000. Annual tax = ($168,000 ÷ $100) × $3.25 = 1,680 × $3.25 = $5,460. This two-step calculation — first finding assessed value (35% of taxable value), then applying the tax rate per $100 — is the standard Nevada property tax calculation format. Always check whether the problem gives taxable value (calculate 35% first) or assessed value (calculate tax directly).