A homeowner pays $3,200 in taxes on property assessed at $260,500. After improvements are made, the property is assessed at $295,300. Using the same tax rate, what are the taxes on the $295,300 assessment. Round the answer to the nearest dollar.
First, we need to find the tax rate:
Tax rate = Taxes paid / Property assessment before improvements
Tax rate = $3,200 / $260,500 = 0.0123
Next, we calculate the taxes on the $295,300 assessment:
Taxes = Tax rate * Property assessment after improvements
Taxes = 0.0123 * $295,300 = $3,632.69
Rounded to the nearest dollar, the taxes on the $295,300 assessment would be $3,633.