Darrick Johnson wants to buy a home. He has narrowed the choice down to a $245,000 home in Sweet Oak and a $282,000 home in Cherry Hill. With regard to property taxes, Sweet Oak has an assessment rate of 90% and a tax rate of $1.45 per $100 of assessed value, while Cherry Hill has a 70% assessment rate and a tax rate of 19.4 mills. Which house has the higher property tax, and by how much? (Round to the nearest cent)

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The Answer of Darrick Johnson wants to buy a home. He has narrowed the choice down to a $245,000 home in Sweet Oak and a $282,000 home in Cherry Hill. With regard to property taxes, Sweet Oak has an assessment rate of 90% and a tax rate of $1.45 per $100 of assessed value, while Cherry Hill has a 70% assessment rate and a tax rate of 19.4 mills. Which house has the higher property tax, and by how much? (Round to the nearest cent)

Darrick Johnson Wants to Buy a Home