7 using the national property tax average of 0.96%, what is the annual property tax on a home valued at $325,000?

$3,150
$2,350
$3,120
$5,320

Question

7 using the national property tax average of 0.96%, what is the annual property tax on a home valued at $325,000?

$3,150
$2,350
$3,120
$5,320

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "quick" ], "needs_drawing": false, "concepts_used": [], "new_concepts": [ "Property Tax Calculation", "Real Estate Finance" ], "current_concepts": [ "Property Tax Calculation", "Percentage Calculation" ] } ## Identify given values and formula $$ \begin{aligned} &\text{Home Value} = \$325,000 \ &\text{Property Tax Rate} = 0.96\% = 0.0096 \ &\text{Annual Property Tax} = \text{Home Value} \times \text{Property Tax Rate} \end{aligned} $$ ## Calculate the annual property tax $$ \begin{aligned} \text{Annual Property Tax} &= 325,000 \times 0.0096 \ &= 3,120 \end{aligned} $$

(A) $3,150

(B) $2,350

(C) $3,120

(D) $5,320

{ "subject": "Mathematics", "question_type": "Multiple Choice", "knowledge_point": [ "Mathematics", "Algebra", "Percentage Calculation" ] }

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Explanation:

Identify given values and formula

Calculate the annual property tax

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