Question

assume that you pay $2,849.84 in state property taxes every year. if your property has an assessed value of $41,302, what is your states property tax rate?
a. 0.077
b. 0.032
c. 0.014
d. 0.069

please select the best answer from the choices provided

a
b
c
d

Explanation:

Step1: Recall tax rate formula

Tax rate \( r \) is calculated as \( r=\frac{\text{Tax Amount}}{\text{Assessed Value}} \).

Step2: Substitute values

Given tax amount \( = \$2,849.84 \) and assessed value \( = \$41,302 \). So \( r = \frac{2849.84}{41302} \).

Step3: Calculate the division

\( \frac{2849.84}{41302} \approx 0.069 \).

Answer:

D. 0.069