Property taxes are placed on the tax roll based on a property's assessed value. If a tax district has a tax rate of 0.4%, then what is the tax owed on a house with an assessed value of $235,000?
A. $940
B. $94,000
C. $9,400
D. $94
since 0.4% is 0.004,
that would, of course, be
0.004 * 235000 = _______
just as a sanity check, note that 0.4% is about $1 per $2000 of value
To calculate the tax owed on the house, you need to multiply the assessed value by the tax rate.
Step 1: Convert the tax rate from a percentage to a decimal. The tax rate is given as 0.4%, which can be written as 0.004.
Step 2: Multiply the assessed value of the house by the tax rate.
$235,000 x 0.004 = $940
Therefore, the tax owed on the house with an assessed value of $235,000 is $940.
So, option A is the correct answer.