Real Estate Math
A Vermont property is assessed at $280,000 with a tax rate of 1.8% of assessed value. What is the annual property tax?
A$2,800
B$5,040✓ Correct
C$5,600
D$4,480
Explanation
Annual property tax = Assessed value × Tax rate = $280,000 × 0.018 = $5,040.
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