Mike's condo has a market value of $310,000. The property in Mike's area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Mike is:
A)$16,992.40
B)$7,999.30
C)$7,999.40
D)$17,992.40
E)None of these

Question

Quizplus · Accepted Answer

The Answer of Mike's condo has a market value of $310,000. The property in Mike's area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Mike is:
A)$16,992.40
B)$7,999.30
C)$7,999.40
D)$17,992.40
E)None of these

Mike's Condo Has a Market Value of $310,000