Real Estate Math
A property has an assessed value of $320,000. Oregon's property tax rate is $15 per $1,000 of assessed value. The semi-annual tax installment is:
A$2,400✓ Correct
B$4,800
C$3,200
D$1,600
Explanation
Annual tax: $320,000 × ($15 ÷ $1,000) = $320,000 × 0.015 = $4,800. Semi-annual installment: $4,800 ÷ 2 = $2,400.
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