Reynaldo has purchased a home with an assessed value of $195,000. The

property tax rate in his area is 1.9%. What is his monthly tax payment?

Property taxes are usually calculated per annum (year). Thus the annual tax for Reynaldo's newly purchased home can be calculated by multiplying the value of the asset by the per annum tax rate. Hence the annual (yearly) tax for Reynaldo would be $3705 ($195,000 x 1.9%). Then the monthly tax payment would be $308.75 ($3705 : 12, because an year has 12 months)