Real Estate Math
A property in Ogden is assessed at $320,000. At a tax rate of 1.2%, what is the annual property tax?
A$3,840✓ Correct
B$38,400
C$384
D$2,112
Explanation
Property tax = Assessed Value × Tax Rate = $320,000 × 0.012 = $3,840. To solve this, multiply the relevant values: $320,000 at 1.2%.. The correct answer is $3,840.. This is a common calculation on the Utah real estate exam.
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