Real Estate Math

A Washington property has an assessed value of $480,000 and a tax rate of $9.75 per $1,000 of assessed value. What is the annual property tax?

A$3,900

B$4,440

C$4,680✓ Correct

D$5,200

Explanation

Annual tax = $480,000 ÷ 1,000 × $9.75 = 480 × $9.75 = $4,680. Using the values given ($480,000, $9.75), apply the appropriate formula.. The correct answer is $4,680.. This is a common calculation on the Washington real estate exam.

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