You have some property that has an assessed value of $74,000. If the tax rate is $7.79 per $100 of assessed value, calculate the tax due. (Round your answer to the nearest cent if necessary)

Question

Quizplus · Accepted Answer

The tax due is calculated by multiplying the assessed value by the tax rate. In this case, the assessed value is $74,000 and the tax rate is $7.79 per $100 of assessed value. So, the tax due is $74,000 x $7.79 / $100 = $5,764.60.

You Have Some Property That Has an Assessed Value of $74,000