Al's Garage has a market value of $425,000. The property in Al's area is assessed at 40% of the market value. The tax rate is $148.50 per $1,000 of assessed valuation. Find the tax for Al.

Name: Al's Garage has a market value of $425,000. The property in Al's area is assessed at 40% of the market value. The tax rate is $148.50 per $1,000 of assessed valuation. Find the tax for Al.
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Question

Quizplus · Accepted Answer

$425,000 × .4 = $170,000; $170,000 / $1,000 = 170; 170 × $148.50 = $25,245.

Al's Garage Has a Market Value of $425,000