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8 July, 19:40

Jerome recently moved to a new city and bought a home. The assessment rate is 51%. The property tax rate is $53.26 per $1000. What is the effective tax rate? Show all work.

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  1. 8 July, 19:48
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    Given:

    assessment rate = 51%

    tax rate = 53.26 per 1,000

    53.26 / 1000 = 0.05326

    0.05326 x 100% = 5.326%

    Effective tax rate = assessment rate * tax rate

    ETR = 51% * 5.326%

    ETR = 2.72%
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