Find the property tax. Round to the nearest cent.
-Assessed Tax rate valuation :: $50,$1.20400 per $100

Question

Quizplus · Accepted Answer

To calculate the property tax, we need to multiply the assessed valuation by the tax rate. 
Assessed valuation = $50 × 100 = $5,000
Property tax = $5,000 × 1.20400/100 = $60.48 (rounded to the nearest cent) 
Therefore the answer is (C) $60.48. To find the property tax, we need to multiply the tax rate by the property valuation:
$50 * ($1.20400/$100) = $0.60200
Rounding to the nearest cent, we get $0.60.
Therefore, the property tax is:
$0.60 * $50 = $30.00
Thus the answer is C) $604.80, which is the rounded property tax for a valuation of $50.

Find the Property Tax