Taxes on a house assessed at $64,000 are $1500 a year. If the assessment is raised to $85,000 and the tax rate did not change, how much would the taxes be?
(85/64 - 1)*1500 = 492.1875
Or, going the long way,
x/85000 = 1500/64000
x = 1992.1875
1992.1875 - 1500 = 492.1875
To calculate the new amount of taxes after the assessment is raised, we can use the formula:
New Taxes = (New Assessment / Old Assessment) * Old Taxes
Given that the old assessment is $64,000 and the old taxes are $1500, and the new assessment is $85,000, we can substitute these values into the formula:
New Taxes = ($85,000 / $64,000) * $1500
To solve the above equation, divide $85,000 by $64,000 and then multiply the result by $1500:
New Taxes = (1.328125) * $1500
Now, multiply 1.328125 by $1500:
New Taxes ≈ $1992.19
Therefore, if the assessment is raised to $85,000 and the tax rate does not change, the new taxes would be approximately $1992.19 per year.