Taxes - taxes on a house assessed at $64,000 are $1500 a year. if the assessment is raised to $85,000 and the tax rate did not change, how much would the taxes be?

Question

Salma Shepard

Business

19 September, 00:57

Taxes - taxes on a house assessed at $64,000 are $1500 a year. if the assessment is raised to $85,000 and the tax rate did not change, how much would the taxes be?

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Shaylee Mack · Answer 1

I n this problem, we have to know the tax rate used to come up with the tax for the year. We can get this by dividing $1,500 by $64,000. The tax rate is 2.34% (rounded to two decimal places). Using the new assessed value of the house, which is $85,000, we can compute its new amount of tax to be paid. We just have to multiply $85,000 with 2.34% which would give us the result of $1,989.