Pete's Warehouse has a market value of $5,000,000. The property in Pete's area is assessed at 40% of the market value. The tax rate of $105.10 per $1000 of assessed value. What is Pete's property tax?

210,200.00

(0.4 * 5,000,000)/1000 = ?

Multiply your above answer by 105.1

To calculate Pete's property tax, we need to follow these steps:

Step 1: Find the assessed value of Pete's property.
The assessed value is given as 40% of the market value.
Assessed value = 40% of $5,000,000
Assessed value = $5,000,000 * 40% = $2,000,000

Step 2: Calculate how many $1000 units are in the assessed value.
The tax rate is given as $105.10 per $1000 of assessed value.
Number of $1000 units = Assessed value / $1000 = $2,000,000 / $1000 = 2000

Step 3: Calculate the property tax.
Property tax = Number of $1000 units * Tax rate per $1000
Property tax = 2000 * $105.10 = $210,200

Therefore, Pete's property tax is $210,200.

2,102,000