Real Estate Math
A Virginia property has an assessed value of $320,000 with an assessment ratio of 100% and a tax rate of $0.87 per $100. What are the annual property taxes?
A$2,784✓ Correct
B$2,366
C$3,200
D$2,340
Explanation
Tax = $320,000 ÷ $100 × $0.87 = 3,200 × $0.
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