Chapter 18.II, Problem 6RE

Calculate the assessed value and the property tax due on the following properties.

$\frac{\begin{array}{l}\text{Fair}\text{Market}\\ \text{Value}\end{array}}{\$125,000}\frac{\text{Assessment}\text{Rate}}{100}\frac{\text{Assessed}\text{Value}}{\_\_\_\_\_\_\_}\frac{\text{Property Tax}\text{Rate}}{\$1.30\text{per}\$100}\frac{\text{Property Tax}\text{Due}}{\_\_\_\_\_\_\_}$