Vervet County levies a real property tax based on the following schedule.
Rate Assessed value
3% $-0- to $250,000
+ 1% $250,001 and above
-Which of the following statements is false?
A) If Mr. Clem owns real property valued at $112,500, his average tax rate is 3%.
B) If Ms. Barker owns real property valued at $455,650, her average tax rate is 2.1%.
C) If Ms. Lumley owns real property valued at $750,000, her marginal tax rate is 1%.
D) None of the choices are false.
Correct Answer:
Verified
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