The market value of a home is $190,000. If the assessment rate is 45%, the assessed value is:
A)$542,857
B)$292,308
C)$85,500
D)$85,505
E)None of these

Name: The market value of a home is $190,000. If the assessment rate is 45%, the assessed value is: A)$542,857 B)$292,308 C)$85,500 D)$85,505 E)None of these
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Question

Quizplus · Accepted Answer

The assessed value can be calculated as: 
Assessed value = Market value * Assessment rate
Assessed value = $190,000 * 0.45 = $85,500. Therefore, the correct choice is C.

The Market Value of a Home Is $190,000