Concept explainers
Property Tax
A county collects property taxes on the assessment value of property, which is 60 percent of the property’s actual value. If an acre of land is valued at $ 10,000, its assessment value is $6,000. The property tax is then 75¢ for each $100 of the assessment value. The tax for the acre assessed at $6,000 will be $45. Write a
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