Real Estate Math
A Vermont property purchased for $210,000 is assessed at 85% of fair market value. If the tax rate is $2.10 per $100 of assessed value, what is the annual tax?
A$3,748.50✓ Correct
B$4,200.00
C$3,276.00
D$4,410.00
Explanation
Assessed value = $210,000 x 0.85 = $178,500.
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