Real Estate Math
A Vermont property's assessed value is $225,000 and the tax rate is $1.45 per $100 of assessed value. What is the annual property tax bill?
A$2,812.50
B$3,000
C$3,262.50✓ Correct
D$3,600
Explanation
Annual tax = (Assessed Value ÷ 100) × Tax Rate = ($225,000 ÷ 100) × $1.45 = 2,250 × $1.
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