# 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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