Real Estate Math
A Wyoming property's assessed value is $45,000 and the tax rate is $52 per $1,000 of assessed value. What is the annual property tax?
A$2,080
B$2,340✓ Correct
C$2,600
D$4,500
Explanation
Tax = (Assessed Value ÷ 1,000) × Tax Rate = (45,000 ÷ 1,000) × $52 = 45 × $52 = $2,340. Using the values given ($45,000, $52), apply the appropriate formula.. The correct answer is $2,340.. This is a common calculation on the Wyoming real estate exam.
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