Question

1. thomas owns a home in an area that has an assessment rate of 35%. the property tax rate is $100 per $1,000. what is the effective tax rate?

0.4
4.5
0.33
0.035

Explanation:

Step1: Calculate the property tax rate as a decimal

The property tax rate is $100 per $1,000. To find this as a decimal, we divide 100 by 1000: $\frac{100}{1000} = 0.1$.

Step2: Multiply by the assessment rate

The assessment rate is 35% or 0.35. We multiply the property tax rate (as a decimal) by the assessment rate: $0.1\times0.35 = 0.035$.

Answer:

0.035