Real Estate Math
A property is assessed at $275,000. The annual property tax rate is $14 per $1,000 of assessed value. What is the monthly tax payment?
A$320.83✓ Correct
B$385.00
C$291.67
D$346.25
Explanation
Annual tax: $275,000 × ($14 ÷ $1,000) = $275,000 × 0.014 = $3,850.
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