Real Estate Math
A South Dakota property's assessed value is $230,000 at a 100% assessment ratio. The tax rate is $18 per $1,000. What are the annual property taxes?
A$3,450
B$4,140✓ Correct
C$4,600
D$2,300
Explanation
Property taxes = ($230,000 ÷ $1,000) × $18 = 230 × $18 = $4,140. To solve this, multiply the relevant values: $230,000 and $18 at 100%..
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