Real Estate Math
A New York property is assessed at $225,000 and qualifies for a STAR exemption of $30,000. If the school tax rate is $18 per $1,000, the annual school tax after STAR is:
A$3,510✓ Correct
B$4,050
C$540
D$3,240
Explanation
Net assessed value = $225,000 - $30,000 = $195,000. School tax = $195,000 × ($18/$1,000) = $195,000 × 0.
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