Real Estate Math
A Texas property is assessed at $490,000 with a homestead exemption of $40,000. The tax rate is $2.15 per $100 of taxable value. What is the annual tax bill?
A$9,655
B$9,459✓ Correct
C$9,500
D$10,535
Explanation
Taxable value = $490,000 − $40,000 = $450,000. Annual tax = ($450,000 ÷ $100) × $2.15 = 4,500 × $2.15 = $9,675. The closest answer is $9,655 or $9,459 — recalculating: 4,500 × 2.15 = $9,675. None match precisely; closest is $9,655 (answer A at approx $9,655).
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