Real Estate Math
A Eugene, Oregon property is assessed at $285,000. The tax rate is $14.50 per $1,000 of assessed value. What is the annual property tax?
A$4,132.50✓ Correct
B$41,325
C$285,000
D$14,500
Explanation
Annual tax = ($285,000 ÷ $1,000) × $14.50 = 285 × $14.50 = $4,132.50. Using the values given ($285,000, $14.50), apply the appropriate formula.. The correct answer is $4,132.50.. This is a common calculation on the Oregon real estate exam.
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