In the community of Borg, the market value of a home is $190,000. If the assessment rate is 45%, the assessed value is:
$292,308
$542,857
None of these
$85,505
$85,500
0.45 * 190,000 = $_________
To find the assessed value, you need to multiply the market value by the assessment rate.
Assessed Value = Market Value * Assessment Rate
Assessed Value = $190,000 * 45%
Calculating 45% of $190,000:
Assessed Value = $190,000 * 0.45
Assessed Value = $85,500
Therefore, the assessed value is $85,500.
To find the assessed value, we need to multiply the market value by the assessment rate.
Market value of the home: $190,000
Assessment rate: 45% (or 0.45)
To calculate the assessed value, we can use the formula:
Assessed value = Market value × Assessment rate
Assessed value = $190,000 × 0.45 = $85,500
Therefore, the assessed value of the home is $85,500.
So, the correct answer is $85,500.