Real Estate Math
A Utah property has a tax rate of 0.0095 and a market value of $500,000. Assuming a 55% residential exemption, what is the annual property tax?
A$2,612.50✓ Correct
B$4,750.00
C$2,375.00
D$1,306.25
Explanation
Taxable value = $500,000 × 0.55 = $275,000.
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