Janice Harris wants to buy a home. She has narrowed the choice down to a $125,000 home in Summerton and a $138,000 home in Lionsville. With regard to property taxes, Summerton has an assessment rate of 100% and a tax rate of $1.86 per $100 of assessed value, while Lionsville has an 80% assessment rate and a tax rate of 22.6 mills. Which house has the higher property tax, and by how much? (Round to the nearest cent)

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The Answer of Janice Harris wants to buy a home. She has narrowed the choice down to a $125,000 home in Summerton and a $138,000 home in Lionsville. With regard to property taxes, Summerton has an assessment rate of 100% and a tax rate of $1.86 per $100 of assessed value, while Lionsville has an 80% assessment rate and a tax rate of 22.6 mills. Which house has the higher property tax, and by how much? (Round to the nearest cent)

Janice Harris Wants to Buy a Home