Real Estate Finance

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A home is valued at $175,000. Property in the area is assessed at 35% of its value, and the local tax rate is $3.85 per $100. What is the amount of annual tax paid on the home?

  • Real Estate Finance -

    174,000 * 0.35 = 60,900

    (60,900 /100) * 3.85 = ?

  • Real Estate Finance -

    $2,358.12

  • Real Estate Finance -

    I get a little different answer.

  • Real Estate Finance -

    I see what you did. The loan amount was $175,000, you used $174,000.

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