Real Estate Math
A homeowner's property is assessed at $380,000. The county tax rate is $0.72 per $100 of assessed value. The annual property tax is:
A$2,280
B$2,736✓ Correct
C$3,800
D$1,900
Explanation
Tax = ($380,000 divided by $100) x $0.72 = 3,800 x $0.72 = $2,736. Using the values given ($380,000, $0.72), apply the appropriate formula.. The correct answer is $2,736.. This is a common calculation on the North Carolina real estate exam.
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