Real Estate Math
A property in Sioux Falls is assessed at $180,000. The tax rate is $15 per $1,000 of assessed value. What are the annual property taxes?
A$1,800
B$2,700✓ Correct
C$2,400
D$3,600
Explanation
Property taxes = ($180,000 ÷ $1,000) × $15 = 180 × $15 = $2,700. Using the values given ($180,000, $15), apply the appropriate formula.. The correct answer is $2,700.. This is a common calculation on the South Dakota real estate exam.
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