Real Estate Math
A NH property has an assessed value of $280,000 and a tax rate of $22 per $1,000 of assessed value. What is the annual property tax?
A$4,840
B$6,160✓ Correct
C$5,600
D$3,920
Explanation
Annual tax = (Assessed value / 1,000) × tax rate = (280,000 / 1,000) × $22 = 280 × $22 = $6,160. Using the values given ($280,000, $22), apply the appropriate formula..
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