A residential property is assessed for tax purposes at 45% of its market value. The residential property tax rate is 3 2/3% of the assessed value and the tax is $1300.
a) What is the assessed value of the property?
b) What is the market value of the property?

Question

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The Answer of A residential property is assessed for tax purposes at 45% of its market value. The residential property tax rate is 3 2/3% of the assessed value and the tax is $1300.
a) What is the assessed value of the property?
b) What is the market value of the property?

A Residential Property Is Assessed for Tax Purposes at 45