Real Estate Math
A NC property's assessed value for tax purposes is $320,000 and the property tax rate is $1.10 per $100 of assessed value. The annual taxes are:
A$3,200
B$3,520✓ Correct
C$2,900
D$3,750
Explanation
Tax = ($320,000 / $100) x $1.10 = 3,200 x $1.
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